Intel Corp.’s plan to take its Mobileye self-driving car unit public marks the highest profile bet yet by the chipmaker’s chief executive that the auto-tech sector will provide an increasingly important avenue for growth.
Intel late Monday said it would take the self-driving unit public in the U.S. in mid-2022, confirming an earlier report by The Wall Street Journal. Intel expects to retain a majority stake in Mobileye, but also reap most of the cash rewards the initial public offering would generate, Intel Chief Executive Pat Gelsinger said Tuesday on a call with reporters and analysts.
