Forex – According to Bloomberg News, citing people with knowledge of the matter, Intel (NASDAQ: INTC) Corp. is a struggling provider of automated driving systems. Mobileye Global(NASDAQ: MBLY) said it was evaluating options for its stake in Inc.
According to the sources, Intel may divest part of its 88% stake in Mobileye through a sale on the public market or to a third party.
Mobileye will hold a board meeting in New York later this month to evaluate Intel’s plans, one of the people said.
Founded in 1999, Mobileye provides software and hardware for driverless systems. The Jerusalem-based company went public in the U.S. in 2022 through an initial public offering. Intel sold some of its stake in Mobileye last year and earned about $1.5 billion from the deal.
