The Wall Street Journal reported on December 7 that Intel Corporation (INTC) is planning to take its self-driving car unit Mobileye public by the middle of the next year, and Intel's stock jumped 8% when the news was released. Mobileye's IPO aims to raise the company's profile in the automotive industry and gain new customers. Mobileye has grown faster than Intel since its acquisition in 2017, however, the business has been overlooked as one of Intel's subsidiaries. Intel will keep a majority share in Mobileye following the IPO and collect most of the proceeds from the IPO. I am neutral on the stock.
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Intel (NASDAQ:INTC)
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