After several weeks of uncertainty, Mobileye can finally breathe. The Intel subsidiary specializing in autonomous driving technologies went public on Wednesday, October 26 at a valuation of $17 billion. Listed at a price of $21 per share, the company raised $861 million by selling 41 million shares in the deal. Quickly, Mobileye’s stock took off, gaining more than 30% in a few hours to reach a market capitalization of nearly $22 billion.
Initially, this IPO was to be more colossal, the Intel subsidiary initially aiming for a valuation of 50 billion dollars, before revising its ambitions downwards, to 30 billion dollars in September, then to 16 billion dollars a few days before ringing the bell on Wall Street in a particularly difficult context for technology stocks. As a reminder, Intel had spent $ 15.3 billion in 2017 to afford this Israeli nugget, which indicates that it has equipped more than 125 million vehicles since its creation two decades ago.