Editor's note: Mobileye has secretly applied for a U.S. stock IPO, or raised funds to transfuse blood for Intel's main chip business; the amount of financing for U.S. stock IPO has been "ankle-cut" this year, is it feasible for Mobileye to choose this point in time? Can it help Intel's "renaissance" program?
By Nicole
On Monday, local time, Intel announced that its subsidiary Mobileye has secretly submitted a U.S. stock IPO application to the SEC, and the number and price of new shares have not yet been determined. The market expects Mobileye to be valued at more than $50 billion and is expected to win the largest IPO of the US stock market this year.
Image source: Intel official website
According to reports, the separate listing of Mobileye is considered to be an important step in Intel's "revival" of Intel's CEO Kissinger last year. At the same time, Mobileye's listing financing can also transfuse blood for Intel's main business chip. CEO Kissinger also said late last year that part of Mobileye's financing will be used to build more chip factories.
In the end, Mobileye sprinted to the largest U.S. stock IPO in the year, how confident? Can it help Intel to "revive" the main business of chips?
First, separate listing! The former "autopilot ace" sprinted to a market value of $50 billion
Before Intel's $15.3 billion acquisition of Mobileye in 2017, Mobileye was a leading company in the automotive ADAS space (Advanced Driver Assistance Systems) that provided technology for Tesla's early self-driving.
However, as giants such as Google, Apple and Tesla have begun to use deep learning algorithms to develop a new generation of L4 autonomous driving technology, the L2 system equipped with mass production cars is increasingly aligned with the technical architecture of L4 autonomous driving. The algorithmic and chip solutions provided by Mobileye are gradually falling behind.
Recently, though, Mobileye has also taken on a new move.
At this year's CES conference, Mobileye released its latest generation of chips for car driving, EyeQ Ultra, with a computing power of 176 TOPS (units of processor computing power). Mobileye's CEO said that EyeQ Ultra can meet all the needs of autonomous driving and driverless taxis. The move is also considered by the market to be a move that is challenging Tesla.
The image comes from the Internet
In addition, Intel's choice to spin off Mobileye at this point in time is inseparable from the growing attention of self-driving car technology. These technologies have attracted a number of traditional manufacturers, such as Ford, General Motors, Toyota, etc., including traditional auto giants, to invest heavily in the development of new models equipped with autonomous driving systems or assisted driving technology.
However, some foreign media pointed out that the current US stock market is experiencing large fluctuations, or affecting the market's interest in subscription. Dealogic statistics show that the U.S. stock IPO market has been very light this year, with a total IPO financing of only $2.33 billion, far lower than the $26.67 billion in the same period last year. Recently, a number of new companies have postponed or cancelled plans to list on U.S. stocks.
Second, blood transfusion for the main business of chips! Where is Intel's renaissance?
Intel, which became a household name in the 1990s, has been challenged by NVIDIA $NVDA, AMD $AMD in recent years. This year, Intel's market capitalization was even surpassed by AMD.
In March last year, Intel changed its coach, and the new CEO was Kissinger, who had returned to power after 12 years of leaving Intel.
Since taking office, Kissinger has undertaken many drastic reforms. Intel has also recently ventured into discrete graphics, introducing its first "Arc Sharp" discrete graphics series for gaming applications, the first product called Alchemy Alchemist.
At the same time, Intel and other 9 companies (see the figure below) announced the development of the UCIe standard, which is aimed at Chiplet (core particles) to regulate the interconnection between different chip designers, manufacturers, and core particles designed for different scenarios. Nvidia, which is also a chip giant, is not listed.
On the business side, Passmark report data shows that Intel has reversed some of its decline and is regaining the market:
Image source: cnBeta
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