Intel says Mobileye has confidentially filed for IPO

[Daniel Nenni]

Great move! More money for fabs!

RobsonPL/iStock Editorial via Getty Images

• Intel (NASDAQ:INTC) said on Monday that its autonomous driving unit, Mobileye, has confidentially submitted its draft registration statement with the Securities and Exchange Commission for its upcoming initial public offering.
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• No details were given about a valuation, but Intel purchased the Israeli tech company for $15.3 billion in 2017.
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• Intel (INTC) shares were slightly lower in early Monday trading, down less than 0.5% to $47.98.
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• In December, Intel (INTC) said it was spinning off Mobileye in 2022, noting the unit had more than 40% revenue growth in 2021.