Intel's Mobileye files for listing

Despite the fact that the new-issue market has almost collapsed, Intel Corp's subsidiary Mobileye has announced that it has filed for an initial public offering in the United States.

The international technology IPO market is going through one of its toughest periods in 20 years. According to Dealogic, U.S. listings raised just over $7 billion in 2022. Last year, a record $154 billion was raised by traditional IPOs, excluding specialized target M&A companies.

Mobileye's initial public offering could, however, be an early sign of improving investor sentiment.

Mobileye, which confidentially filed for an IPO earlier this year, reported first-half earnings of $854 million. According to its initial public offering filing, the organization earned 21 percent less last year, with Mobileye earning $1.4 billion in 2021.

A subsidiary of Intel Corp plans to list its stock on Nasdaq under the ticker symbol "MBLY."

Intel did not say what stake it will retain in the organization after it goes public. The chipmaker previously said it would retain a controlling stake.

Mobileye's public offering is part of a broader strategy by Intel, led by CEO Pat Gelsinger, to transform its core business.