The stock market horizon is getting darker and darker for Mobileye. While its entry on Wall Street promised to be grandiose with an estimated valuation of around 50 billion dollars, Intel continues to revise downwards its ambitions for this Israeli subsidiary specializing in autonomous driving technologies.
After having put forward the figure of 30 billion dollars in September, the company indicated on Tuesday, October 18 that it was now aiming for a valuation of nearly 16 billion as part of its IPO. The operation would allow it to raise up to 820 million dollars. If Mobileye sticks to this figure, it would be almost similar to the sum paid by Intel to afford the company in 2017 (15.3 billion).
The stock market ambitions of the Intel subsidiary are thwarted by a particularly difficult context for technology stocks. According to data from Refinitiv, tech IPOs have raised $507 million so far in 2022, the lowest amount since 2000.