Sunday, September 14, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Intel’s Mobileye files for listing in first sign of thawing tech IPO market By Reuters

by Reuters
September 30, 2022
in Finance
Reading Time: 2 mins read
A A
0
Home Finance
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: Mobileye driverless car logo is seen on a vehicle at the Nasdaq Market site in New York, U.S., July 20, 2021. REUTERS/Jeenah Moon/File Photo

By Anirban Sen and Jane Lanhee Lee

(Reuters) -Intel Corp’s self-driving unit Mobileye (F:) on Friday unveiled its filing for a U.S. initial public offering, testing support for a high profile stock debut even as the market for new issues has virtually collapsed.

The tech IPO market globally is in the middle of its worst drought in nearly two decades. U.S. listings have raised a little over $7 billion so far this year, according to data from Dealogic. Last year traditional IPOs, excluding special purpose acquisition companies, had raised a record $154 billion.

Mobileye’s IPO, coming on the heels of Porsche’s blockbuster debut in Europe, could, however, be an early sign of improving investor sentiment.

If Mobileye’s debut is received well, it may embolden other big names such as Instacart, Reddit and ServiceTitan, which postponed their IPOs earlier this year until the market improves.

Earlier in September, AIG Inc (NYSE:)’s life insurance and retirement division Corebridge Financial Inc raised $1.68 billion in the year’s biggest IPO, braving market volatility and ending a seven-month lull in major listings.

BRAVING VOLATILITY

Mobileye, which confidentially filed for its IPO earlier this year, reported first-half revenue of $854 million, a 21% jump from the year-ago period, according to its IPO filing. In 2021, Mobileye posted $1.4 billion of revenue.

Reuters was first to report in April that Mobileye had tapped investment banks Goldman Sachs Group Inc (NYSE:) and Morgan Stanley (NYSE:) to lead preparations for the self-driving car unit to go public.

In its filing on Friday, Mobileye confirmed that Goldman Sachs and Morgan Stanley are the lead underwriters.

Mobileye plans to list shares on Nasdaq under the ticker “MBLY.”

Mobileye has not set a price range for its IPO yet, but Reuters has reported that the company could target a valuation as high as $50 billion for its share sale.

A source familiar with the matter said on Friday that Mobileye may lower its IPO valuation estimate due to adverse market conditions.

Intel (NASDAQ:) did not reveal the stake it will retain in the unit when it goes public, but the chip giant has previously said it would be a majority interest.

The Mobileye listing is part of Intel’s broader strategy under Chief Executive Pat Gelsinger to turn around its core business.

Mobileye, an Israeli company that Intel bought for about $15.3 billion in 2017, uses a camera-based system with adaptive cruise control and lane change assistance in driverless cars.

In addition to self-driving chips and software, Mobileye offers driver assistance technology and mapping technology that are in use today.

Mobileye, which counts BMW, Audi, Volkswagen (ETR:), Nissan (OTC:), Honda and General Motors (NYSE:) as its clients, has been a bright spot for Intel, which faces stiff competition in chip-making from Nvidia (NASDAQ:) Corp and Qualcomm (NASDAQ:) Inc.



Source link

Tags: filesIntelsipoListingMarketMobileyeReuterssigntechThawing
Previous Post

Student Loan Forgiveness will Cost $400B Over Next 30 Years – Investment Watch

Next Post

New Poll Finds Most Americans Think Trump Shouldn’t Be Allowed To Run

Related Posts

DVN Quantitative Stock Analysis | Nasdaq

DVN Quantitative Stock Analysis | Nasdaq

by Validea
September 13, 2025
0

Under is Validea's guru elementary report for DEVON ENERGY CORP (DVN). Of the 22 guru methods we observe, DVN charges...

The First Cause of Modern War is the Modern State

The First Cause of Modern War is the Modern State

by Finn Andreen
September 14, 2025
0

Human battle is an intrinsic a part of human nature; it's as pure as tears. As Leo Strauss wrote, in trendy...

PSU banks ready to play a larger role towards Viksit Bharat 2047: DFS Secretary

PSU banks ready to play a larger role towards Viksit Bharat 2047: DFS Secretary

by Euro Times
September 13, 2025
0

Public sector banks (PSBs) have transitioned from a section of survival and stability and at the moment are positioned to...

Martin Lewis issues warning to millions ahead of October bill deadline | News

Martin Lewis issues warning to millions ahead of October bill deadline | News

by Holly Patrick
September 13, 2025
0

Martin Lewis has issued a warning to billpayers because the power value cap is about to rise in October.Ofgem, the...

Links 9/13/2025 | naked capitalism

Links 9/13/2025 | naked capitalism

by Yves Smith
September 14, 2025
0

I completely love this! ❤️ The world wants extra pool noodle fights with strangers… and fewer worry, violence, and hate....

Best CD rates today, September 13, 2025 (best account provides 4.45% APY)

Best CD rates today, September 13, 2025 (best account provides 4.45% APY)

by Casey Bond
September 13, 2025
0

Learn the way a lot you could possibly earn by locking in a excessive CD charge in the present day....

Next Post
New Poll Finds Most Americans Think Trump Shouldn’t Be Allowed To Run

New Poll Finds Most Americans Think Trump Shouldn't Be Allowed To Run

Redesigned USB logos finally make sense

Redesigned USB logos finally make sense

Rigetti Computing Gets Closer To Crucial Quantum Milestone (NASDAQ:RGTI)

Rigetti Computing Gets Closer To Crucial Quantum Milestone (NASDAQ:RGTI)

September 14, 2025
They Witnessed Charlie Kirk’s Assassination. Now Students Reckon With The Trauma.

They Witnessed Charlie Kirk’s Assassination. Now Students Reckon With The Trauma.

September 14, 2025
Gaza Famine Death Toll Rises to 420, Including 145 Children

Gaza Famine Death Toll Rises to 420, Including 145 Children

September 13, 2025
Nato F-16 jets scrambled after Russian drones enter Romanian airspace

Nato F-16 jets scrambled after Russian drones enter Romanian airspace

September 14, 2025
Apple iPhone 17 Pro vs. iPhone 16 Pro: I compared both models, and there’s a big difference

Apple iPhone 17 Pro vs. iPhone 16 Pro: I compared both models, and there’s a big difference

September 14, 2025
Let people decide whether they want to be ruled by ‘disciples of Bandera’ – Roger Waters — RT World News

Let people decide whether they want to be ruled by ‘disciples of Bandera’ – Roger Waters — RT World News

September 13, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Rigetti Computing Gets Closer To Crucial Quantum Milestone (NASDAQ:RGTI)

They Witnessed Charlie Kirk’s Assassination. Now Students Reckon With The Trauma.

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In