Intel’s self-driving tech subsidiary Mobileye has filed for an IPO with the SEC. Mobileye was initially valued at $50 billion by Intel. Intel predicts Mobileye will be worth $30 billion because of inflation and market conditions. If listed this year, it will be one of the years major US IPO’s of 2022.
Intel purchased Mobileye for $15.3 billion back in 2017. Mobileye has filed for an IPO with the Securities and Exchange Commission. Intel initially planned to take Mobileye public late last year with a $50 billion value. Due to rising inflation and unfavorable market circumstances, Intel forecasts Mobileye to be worth $30 billion. If listed this year, it will be one of the biggest US listings in 2022.
Mobileye’s SEC filing didn’t include share prices. It said it will use a portion of the IPO proceeds to pay debts. The company’s revenue climbed from $879 million in 2019 to $1.4 billion in 2021, or 43% year-over-year.