Intel Stock Rises on Move to Launch IPO of Mobileye Unit

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Shares of Intel were rising more than 8% in premarket trading Tuesday after the chipmaker said it would be taking public its Mobileye self-driving-car unit.

The initial public offering of Mobileye in the U.S. is planned for the middle of next year. The move, first reported by The Wall Street Journal, could value Mobileye at more than $50 billion, according to people familiar with the matter.


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