Intel (NASDAQ:INTC) is said to hire banks to prepare for an IPO of its Mobileye self-driving car unit.

Intel has hired Goldman Sachs and Morgan Stanley for the IPO of Mobileye, according to a Reuters report.

Intel said last month that its autonomous driving unit, Mobileye, confidentially submitted its draft registration statement with the Securities and Exchange Commission for its upcoming initial public offering.

In December, Intel (INTC) said it was spinning off Mobileye in 2022, noting the unit had more than 40% revenue growth in 2021.

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