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Mobileye, an Intel-owned company that makes chips, maps, and software for self-driving cars, has filed for an IPO, according to a prospectus filed with the SEC on Friday.
Mobileye’s filling indicates strong revenue growth for the Israeli-based subsidiary, from $879 million in sales in 2019, to $967 million in 2020, to $1.39 billion last year. Losses have shrunk from $328 million in 2019 to $75 million last year.
The move to list Mobileye on the Nasdaq is part of Intel’s broader strategy to turn around its core business. Intel acquired the company for $15.3 billion in 2017 and has announced plans to take Mobileye public this year with a €30 billion euro valuation.