Intel's Mobileye lists on the NASDAQ for the second time around.
👉Background: Mobileye is an Israel-based company that makes cameras, computer chips and software in the autonomous driving space. It partners with 50+ carmakers, including Volkswagen, General Motors, and Ford.
👉 What happened: Back in 2017, Intel, the computer chip giant, acquired the shares in Mobileye from the NASDAQ for $15B USD - taking it private. But then, this year, Intel decided to spin it off and make some moula again.
👉 What else: So last week, Mobileye hit public markets again at a $17B USD valuation. And yes, shares flew 38% in the best opening day for a major US IPO this year.
💡When it comes to self-driving tech, the brand-agnostic companies are winning out. Rather than build its own cars, Mobileye partners with established car makers.
💡 In fact, Mobileye's driver-assistance technology is currently in over 125 million cars from carmakers like VW and Ford. And by selling the technology, Mobileye is able to generate healthy revenue.
💡Compare that to Waymo which has developed its own technology for its ownvehicles. While Mobileye's value has steadily increased over the past 5 years, Waymo’s valuation has dropped 80%.
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