According to a prospectus filed with the SEC, Mobileye, an Intel-owned firm that provides semiconductors, maps, and software for self-driving cars, has filed for an IPO.
The decision to put Mobileye on the Nasdaq is part of Intel’s larger aim to revitalize its core business. Intel paid $15.3 billion for Mobileye in 2017, and the business had previously announced ambitions to go public this year.
Intel has previously stated that it will use a portion of the proceeds from the Mobileye IPO to construct additional chip facilities as it begins the capital-intensive process of turning into a foundry for other chipmakers.
The 1999-founded startup Mobileye has collaborated with Audi, BMW, Volkswagen, GM, and Ford to provide cutting-edge driving and safety technologies including driver assistance and lane-keeping using the “EyeQ” camera, chips, and software.
According to the petition, Mobileye CEO Amnon Shashua stated that 50 organizations are currently using the company’s technology across 800 locations.
