Promotions of the manufacturer of electronic devices and computer components Intel flew by 8.82 percent, from 50.96 to 55.45 dollars per piece, postmarket on the NASDAQ American Stock Exchange. The paper was then adjusted to 54.3 dollars (plus 6.56 percent).
A sharp increase in stocks is caused by the news of Intel’s plans to bring to the IPO (primary public placement of paper on the stock exchange) in the middle of 2022 its Mobileye division, which develops technologies for unmanned cars. Mobileye market value can reach 50 billion dollars. The final decision on the exit to the stock exchange will depend on the market situation.
Mobileye was founded in 1999 in Israel. Intel purchased for $ 15.3 billion in 2017 to compete with NVIDIA and Qualcomm – the largest developers of systems for unmanned cars. Although Mobileye belongs to Intel, it never used the company’s infrastructure for chip production, buying semiconductors from Taiwan TSMC.
In the third quarter of 2021, Mobileye revenues amounted to $ 326 million – 39 percent more than the same period last year. The company awaits revenue growth by 40 percent of 2021.