Intel Might Publicly List Shares In Its Mobileye Self-Driving-Car Unit -- WSJ -- December 6, 2021

Before we get to the story, INTC had a huge day on Wall Street today: during normal trading hours, INTC was up almost 4% but then after hours when this story must have been breaking, INTC was up almost ten percent. Amazing. I know at least one reader that will be happy. LOL. 

Story here. If there's a paywall, the story will be everywhere tomorrow morning. I track EV partnerships here.

From The WSJ:

Intel is planning to publicly list shares in its Mobileye self-driving-car unit, according to people familiar with the matter, the latest move by Chief Executive Pat Gelsinger to revive the semiconductor giant’s fortunes.

The company is expected to announce the move, which could value Mobileye at north of $50 billion, as soon as this week, the people said.

There are no guarantees Intel will ultimately follow through with an offering.

Mobileye, an Israeli company Intel acquired in 2017 for around $15 billion, specializes in chip-based camera systems that power automated driving features in cars. 

Mobileye’s revenues have roughly tripled since Intel bought it. It had $326 million of revenue in the third quarter, a 39% year-over-year increase. Intel had over $19 billion in revenue in the period. 

By relisting shares of Mobileye, Intel could tap into surging investor demand for companies betting on the future of transportation. 

The initial public offering market has also been on a tear, with investors clamoring for new technology issues. 

Mobileye was created by Amnon Shashua and Ziv Aviram when most cars counted seat belts, anti-lock brakes and air bags as central safety components. They set out to create vision-based systems that help cars see the road and communicate with critical systems—including steering and braking—to respond to situations that could lead to a crash.

Apple will stick to its own schedule, but these new announcements, seemingly coming out every week, must be putting a lot of pressure on Apple to make an announcement. My hunch: get through the challenging holiday season and then make the announcement NLT 2Q22.