Intel announced on Monday that its Mobileye unit has confidentially filed for an initial public offering in the United States, which could value it at more than $50 billion, reported Reuters.

The Israeli company that Intel bought for $15.3 billion in 2017 uses cameras for adaptive cruise control and lane-change assistance in driverless cars.

Mobileye includes top car brands as its customers, including BMW, Audi, Volkswagen, Nissan, Honda and General Motors.

Intel’s CEO Pat Gelsinger said back in December that the funds raised would be used to build more Intel chip plants.


Jewish News Syndicate

With geographic, political and social divides growing wider, high-quality reporting and informed analysis are more important than ever to keep people connected.

Our ability to cover the most important issues in Israel and throughout the Jewish world—without the standard media bias—depends on the support of committed readers.

If you appreciate the value of our news service and recognize how JNS stands out among the competition, please click on the link and make a one-time or monthly contribution.

We appreciate your support.