Financial News: Intel to take Mobileye public

Intel Corp. said Monday that it plans to take its self-driving car business Mobileye public in the U.S. by the middle of next year.

According to Intel, the company will remain the majority owner of Mobileye with no intent to spin off or divest. The two companies will continue as strategic partners to pursue the growth of computing in the automotive sector. News of the move sent shares of Intel up about 8% in early trading today.

Photo: Intel Corp. said Monday that it plans to take its self-driving car business Mobileye public in the U.S. by the middle of next year.