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Intel slashes Mobileye valuation to $16B in IPO filing

Intel Corp. set targets far lower than expected when it filed to take Mobileye Global Inc. public at a valuation of about $16 billion on Tuesday.

That’s slightly more than the $15.3 billion than the Santa Clara-based chip giant paid for the Israel-based self-driving technology company in 2017 and far below the $30 billion to $50 billion valuation that had been talked about earlier this year.

Intel (Nasdaq:INTC) said in its filing that it plans to sell 41 million shares for between $18 and $20 each,…
Source: The Business Journal

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