Mobileye Global (MBLY), Intel's autonomous driving subsidiary, hit the Nasdaq on Wednesday, October 26. At the close of markets on Tuesday, Mobileye was reported to release 41 million shares at $21 per share.
Mobileye's set of core enterprise customers is expanding too. Last year, 78% of revenue came from sales to four automakers. That number doubled in 2022, with 76% of its sales stemming from eight car manufacturers.
Mobileye's main business remains its customized EyeQ chips. Having been improved over five generations since 2007, the chip series minimizes power consumption and optimizes processing power for assisted driving systems.