{"id":18819,"date":"2023-06-06T07:35:07","date_gmt":"2023-06-06T11:35:07","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/intel-to-sell-1-5-billion-stake-in-mobileye\/"},"modified":"2023-06-06T07:35:08","modified_gmt":"2023-06-06T11:35:08","slug":"intel-to-sell-1-5-billion-stake-in-mobileye","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18819","title":{"rendered":"Intel to sell $1.5 billion stake in Mobileye"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The listing of Mobileye Global Inc., the self-driving unit of chip maker Intel Corp, is seen at the Nasdaq MarketSite, at Times Square in New York City, U.S., October 26, 2022. REUTERS\/Shannon Stapleton<\/span>
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(Reuters) – Intel Corp <\/span><\/span> (NASDAQ:) is offering 35 million shares of Class A common stock, or about a $1.5 billion stake, in Mobileye Global Inc, according to a regulatory filing on Monday. <\/p>\n

After the offering, Intel’s voting share in the self-driving technology company will come down to about 98.7% from the 99.3% it currently holds. <\/p>\n

Shares of the Jerusalem, Israel-based Mobileye fell over 4% to $40.55 in extended trading. <\/p>\n

The share sale comes at a time when the company is facing intense competition in the assisted driving market from chipmakers Nvidia (NASDAQ:) Corp and Qualcomm (NASDAQ:) Inc, which are trying to make inroads into the space.<\/p>\n

Mobileye, which counts BMW, Nissan (OTC:) and Volkswagen (ETR:), among others as its customers, listed on the Nasdaq last year after raising $861 million in an initial public offering.<\/p>\n

Goldman Sachs & Co (NYSE:) and Morgan Stanley <\/span><\/span> (NYSE:) are acting as joint book-running managers for the share sale, the company said. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The listing of Mobileye Global Inc., the self-driving unit of chip maker Intel Corp, is seen at the Nasdaq MarketSite, at Times Square in New York City, U.S., October 26, 2022. REUTERS\/Shannon Stapleton (Reuters) – Intel Corp (NASDAQ:) is offering 35 million shares of Class A common stock, or about a […]<\/p>\n","protected":false},"author":1,"featured_media":18820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-18819","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nIntel to sell $1.5 billion stake in Mobileye | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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