Intel's MobileEye preps year's largest IPO
MobileEye, an Israeli maker of computer vision products for driver assistance and self-driving, filed for an IPO on the Nasdaq.
Why it matters: This could be the year's largest IPO, topping Corebridge and TPG, with Renaissance Capital estimating up to $2.5 billion in proceeds.
Details: MobileEye first went public in 2014, before being acquired by Intel three years later for $15.3 billion.
- It reports a $75 million net loss on $1.39 billion of revenue for 2021, whereas it reported $108 million of net income on $358 million in revenue for its last full year in the public markets (2016).
What it does, per The Verge: "Mobileye is known for its EyeQ system-on-a-chip (SoC), which serves as the 'brain' for Mobileye’s driver-assist and self-driving technology. Mobileye also uses a data crowdsourcing program — called Road Experience Management (REM) — to build out a 3D map using real-time data from vehicles equipped with Mobileye’s technology."