- Intel Corp’s (NASDAQ:INTC) self-driving car unit, Mobileye, has confidentially filed paperwork for a U.S. IPO, Reuters reports.
- The IPO could value the Israeli unit at over $50 billion.
- Intel acquired Mobileye for $15.3 billion in 2017 to fire up rivalry with Nvidia Corp (NASDAQ:NVDA) and Qualcomm Inc (NASDAQ:QCOM) in developing driverless systems for automakers.
- Intel CEO Pat Gelsinger has been under pressure from activist investors to consider spinning off its chip manufacturing operations.
- Price Action: INTC shares traded lower by 0.51% at $47.83 on the last check Monday.
MGM Resorts, Madison Square Garden Entertainment, Cardiovascular Systems And Other Big Stocks Moving Higher On Thursday
U.S. stocks traded higher, with the Dow Jones gaining around 150 points on Thursday. Here are some big stocks recording losses in today’s session.
