Mobileye, the self-driving tech firm that Intel purchased for $15.3 billion, has filed for an initial public offering. Mobileye was expected to have a valuation of over $50 billion when Intel decided to take the firm public. The value of Mobileye is expected to be around $30 billion due to soaring inflation rates and poor market conditions. If it is listed this year, it will become one of the biggest offerings in the US for 2022.
Pat Gelsinger previously stated that taking it public would allow it to grow more easily. Some of the money raised from the IPO will be used to build more chip factories. The company is investing $20 billion in two Arizona fabrication plants. Gelsinger claimed that he was working on Apple's business. Two fabrication plants in Columbus, Ohio will be built with another $20 billion. The facility is expected to be the largest Silicon manufacturing location on the planet.
Mobileye did not say how much a share would cost. The proceeds from the IPO will be used to pay debts. In the filing, the firm talked about how its revenue grew from $889 million in the year before to $1.4 billion in the year after.
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