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Why are Intel Shares Rising Today

00:00:45

Intel Corp ($INTC@US) is trading higher today after the company announced its intention to take Mobileye public in the U.S. in mid-2022 via an initial public offering of newly-issued stock. Mobileye is a driver-assistance and autonomous driving solution, and the company expects 40% revenue growth for 2021. Intel will remain the majority owner of Mobileye. The companies will become strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector. Intel designs and manufactures microprocessors for the global personal computer and data center markets. It has traded as high as $68.49 and as low as $45.24 over a 52-week period. Intel stock was up just over 8% at $55.15 this morning.

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