Technology
Intel Slashes Mobileye IPO Valuation Again to $16 Billion
- Chipmaker recently expected a valuation of $30 billion
- IPO will be one of the year’s biggest amid market turbulence
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Mobileye Global Inc., the self-driving technology company owned by Intel Corp., is targeting a valuation of about $16 billion in a public offering, far below its previous target amid a rocky year for new listings.
Intel had recently lowered its expected valuation of Mobileye to $30 billion due to turbulent market conditions, Bloomberg News reported last month.