Intel's Autonomous Car Driving Unit Confidentially Files For US IPO - Intel (NASDAQ:INTC)

Intel Corp's (NASDAQ:INTC) self-driving car unit, Mobileye, has confidentially filed paperwork for a U.S. IPO, Reuters reports.
The IPO could value the Israeli unit at over $50 billion.
Intel acquired Mobileye for $15.3 billion in 2017 to fire up rivalry with Nvidia Corp (NASDAQ:NVDA) and Qualcomm Inc (NASDAQ:QCOM) in developing driverless systems for automakers.
Intel CEO Pat Gelsinger has been under pressure from activist investors to consider spinning off its chip manufacturing operations.
Price Action: INTC shares traded lower by 0.51% at $47.83 on the last check Monday.

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