Intel Says It Won't Sell Mobileye, Ruling Out One Option To Raise Capital

Chipmaker Intel said on Thursday it will not sell its self-driving technology unit Mobileye, as it looks at other options to raise capital.

Intel has been exploring ways to raise capital as it faces pressure to invest in new technologies and compete with rivals such as Qualcomm and Nvidia.

The company has considered selling Mobileye, which it acquired for $15 billion in 2017, as one way to raise cash. However, Intel said in a statement on Thursday that it has decided not to pursue a sale of Mobileye.

"We have decided to retain Mobileye as part of Intel," the company said. "We believe that Mobileye is a strategic asset for Intel, and we are committed to investing in its growth."

Intel did not provide any details on other options it is considering to raise capital. The company is expected to report its fourth-quarter earnings on Jan. 26.

Mobileye is a leading provider of self-driving technology. The company's technology is used in a variety of vehicles, including cars, trucks, and buses.

Intel has been investing heavily in Mobileye in recent years. In 2022, the company announced a $4 billion investment in Mobileye to help it develop new self-driving technologies.

Intel's decision not to sell Mobileye is a sign of the company's commitment to the self-driving technology market. The company believes that Mobileye has the potential to be a major growth driver in the future.