Thread regarding Intel Corp. layoffs

Intel selling Mobileye stock... needs cash badly.

First Intel bought the company... never mind that there was not strategic rationale for it.

Then the new CEO took over so they spun it right back out... and now plan to sell the shares.

Intel needs the cash badly, given the $2.8B Q1 loss and the heavy cash investment needed for the IFS 'moonshot' as the CEO likes to call it.

This entire episode doesn't instill much confidence.

3% to 98.7% is voting rights reduction. Not share reduction. MBLY has around 780m outstanding shares. Out of that 41m were sold during initial IPO and secondary around 40m so total of around 80m shares. After secondary offering intel still have 90% stake worth around $30B assuming price of $43.5.

ME marketcap is about 33B, so 1.5B sale is close to 5% stake.
....So, how does the math for 99.3% to 98.7% share reduction work?

This is to make MBLY more public. Intel still owns 98.5% of it. Would be stupid not to cash out some when the price is high.

Self-driving, lol.
They could make more money with self-copulation.

They will just use the ME equity as a slush fund to keep their hope a love a bit longer.

It's a tiny fraction of the shares that Intel owns in that company which takes them from owning 99.3% to 98.7%.