Mobileye

Intel says it has no plans to sell its majority stake in Mobileye; the self-driving tech company's stock, which is down 73% in 2024, jumps 13%+

Intel (INTC.O) said on Thursday it had no plans to sell its majority stake in Mobileye Global (MBLY.O), sending shares of the self-driving tech firm up more than 13%.

Sources: Intel is considering selling part of its 88% stake in Mobileye, and is also exploring options for its Network and Edge enterprise networking division

Bloomberg :

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Mobileye stock drops 25% after the self-driving tech company warned that customer orders may fall in Q1 as automakers stocked up during chip shortages

- Mobileye shares plunged as much as 25% Thursday after the company warned that customer order numbers would fall short of the year-ago quarter.

Volkswagen starts testing autonomous driving in Austin, its first US program, beginning with a small fleet of ID. Buzz EVs equipped with VW and Mobileye tech

Kara Carlson / Austin American-Statesman :

Filing: Intel plans to sell 35M+ Mobileye shares, raising ~$1.48B for its ambitious fab spending plans; after the sale, Intel will retain an ~88% Mobileye stake

Ian King / Bloomberg :

How Mobileye, Cruise, Waymo, and other self-driving system makers are simulating bad drivers, jaywalkers, and edge cases to train and test autonomous vehicles

How Mobileye, Cruise, Waymo, and other self-driving system makers are simulating bad drivers, jaywalkers, and edge cases to train and test autonomous vehicles

Christopher Mims / Wall Street Journal :

Mobileye reports Q3 revenue up 38% YoY to $450M, narrowly beating analyst estimates, and a $45M net loss, up from $26M YoY, in its first post-IPO earnings

Yuvraj Malik / Reuters :

Mobileye pops 37.95% on its first day of trading after spinning out of Intel, giving the company a $23B market cap; Intel acquired Mobileye for $15.3B in 2017