Amid a tumultuous environment for semiconductor companies, one of the world’s largest plans to part ways with a high-profile subsidiary.
Intel this week announced that it would list Mobileye as a publicly traded company next year.
The company acquired the Israeli self-driving technology startup in 2017 for more than $15 billion.
Although the segment’s sales and revenue soared in subsequent years, Intel officials suggested that Mobileye remained somewhat “hidden.”
An initial public offering could reportedly value the company at $50 billion.
Intel would remain Mobileye’s majority shareholder, and would use the proceeds to help fund its aggressive expansion plans.
Mobileye partners with many of the world’s leading automakers, including GM, Ford, BMW and Tesla.