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HomeInformationIntel Drives Forward With IPO Plans

Intel Drives Forward With IPO Plans


Intel Drives Forward With IPO Plans for Mobileye Self-Driving Car Unit

Intel has said it is moving forward with IPO plans for its self-driving car unit, Mobileye. The company has been the bright spot for Intel, and has consistently outperformed its parent company in recent years. It currently has $774 million in cash on its balance sheet, and had a $75 million net loss from its $1.39 billion in revenue in Dec. The proceeds from the IPO will be used for debt repayment, corporate purposes and working capital. Jon Huntsman, a former US senator, will serve as chairman of the board.

Tesla sales rose 35% in the July-September period compared to the second quarter

Tesla’s sales have climbed 35% in the July-September quarter compared to the second quarter of 2018, driven by an increase in deliveries. The company also created new jobs and earned a number of capital investment tax credits, which it is eligible to use in the coming year. As of now, the company can take up to $48.0 million of these credits. Any credits that are not claimed in FY 2019 will carry over to FY 2020.

As demand for EVs continues to grow, BYD is adding significant capacity in Shanghai and is expanding into the U.S. The company has a plant in Lancaster, California. Meanwhile, Tesla has expanded its European sales to include the Model Y, which has a lower starting price. However, prices vary from country to country.

Tesla’s share price has struggled this year

Intel’s self-driving car unit, Mobileye, has filed for an IPO in the U.S., but it hasn’t disclosed the amount of money it plans to raise. But the company’s sales have risen significantly since Intel acquired it. It generated $1 billion in revenue last year. Founded in 1999, Mobileye develops self-driving cars and advanced driver-assist systems for other automakers.

The company has supplied chip systems to automakers, including Ford and General Motors, and is now building its own fleet of autonomous vehicles. It plans to launch a robotic taxi service in Germany this year and a driverless delivery service in 2023. It is also testing driverless cars in New York City.

Intel’s stake in Mobileye

After buying Mobileye for $15.3 billion in 2017, Intel is now the biggest shareholder in the company’s self-driving car unit. The company competes with Qualcomm Inc. and Nvidia Corp., which have invested heavily in self-driving car technology.

The IPO could be a boost for Intel. The company’s stock has struggled this year, while other chip companies have been soaring. For example, graphics chip designer Nvidia and Taiwan-based TSMC have been doing well. This year, Intel has also announced plans to build two new chip plants in Arizona, costing $20 billion. The proceeds from Mobileye’s IPO could help the chipmaker fund its expansion plans.

IPO plans for Mobileye

Intel is pushing ahead with its plans to take Mobileye public, a unit it bought for $15.3 billion in 2017. The IPO could be worth over $50 billion, if the company succeeds. However, the market for new issues has collapsed this year, making an IPO a risky bet.

The company has filed for its IPO after reporting first-half revenue of $854 million, up 21% from the same period last year. The company expects to generate $1.4 billion of revenue in 2021. It also anticipates that its technology will be used in 266 million vehicles by 2030. The company has also signed deals with major automakers to use its technology in future vehicles.


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