Electronics and Semiconductors

Mobileye files for proposed IPO

04 October 2022

Mobileye, a division of Intel Corp., has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC).

The filing relates to a proposed initial public offering of Class A common stock. Intel announced it planned to spin off Mobileye late in 2021 with Intel remaining as the majority owner and said it has no plans to sell off that stake.

Intel said it will still be committed to the automotive market in the long term. The company recently launched its Foundry Services Accelerator and dedicated capacity for the automotive industry. While Intel’s foundry capacity won’t be used exclusively for automotive — it has signed up Amazon, MediaTek and Qualcomm as customers — it will likely be a large part of the platform.

Additionally, Intel acquired Tower Semiconductor with some analysts thinking the company would use it to expand its presence in automotive semiconductors. Intel will continue to support Mobileye with resources as the company continues to test and deploy autonomous vehicles to public spaces.

Intel said Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead book-running managers for the proposed offering.

To contact the author of this article, email PBrown@globalspec.com

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