Skip to main content

Market Overview

Mobileye Just Scored A Huge Partnership

Share:
Mobileye Just Scored A Huge Partnership

Bloomberg reported after Wednesday's market close that Mobileye NV (NYSE: MBLY) is teaming up with Intel Corporation (NASDAQ: INTC) to develop self-driving car technology that will be integrated in future BMW vehicles.

Bloomberg, citing "people familiar with the matter," stated senior executives from all three companies will host a joint press conference on Friday to discuss the new initiative.

News of the press conference was confirmed by Mobileye on its investor relations website. The event will be attended by Harald Krueger, BMW's CEO; Brian Krzanich, Intel's CEO; and Mobileye Co-founder, Chairman and CTO Amnon Shashua.

Related Link: Mobileye Is Piper Jaffray's Favorite Car-Of-The-Future Stock

A webcast of the press conference will be streamed live on BMW's website and is scheduled to take place on Friday at 10:00 ET.

No other details of the press conference were provided. Intel's announcement on its own investor relations webpage did not provide any other details either.

Interestingly, Mobileye's investor website also contained a link to a press release titled, "BMW introduces new Camera-Only Active Safety Systems," but the link leads to a page that is not available.

Shares of Mobileye were trading higher by nearly 10 percent ahead of Thursday's market open at $46.00. Intel's stock was unaffected and trading higher by just 0.13 percent at $31.97.

 

Related Articles (INTC + MBLY)

View Comments and Join the Discussion!

Posted-In: Amnon ShashuaNews Rumors Contracts Travel Tech Trading Ideas General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com