intel plans to reduce its stake in mobileye to raise funds
2024-09-06
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market sources said intel (intc.o) is considering the option of selling its stake in autonomous driving computing company mobileye global (mbly.o) as part of a comprehensive review of its strategy. intel may reduce part of its 88% stake in mobileye on the open market or through sales to third parties. mobileye will hold a board meeting later this month to discuss intel's plans. last year, intel sold a portion of mobileye's shares, cashing in about $1.5 billion. if intel continues to use the sale of mobileye shares to raise funds, the latter will be in a difficult period. mobileye's stock price has fallen by about 71% this year, with a market value of about $10.2 billion, and the company is facing its third consecutive year of losses. (this article comes from china business network)
