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Mobileye, self driving experts

October 2022

Intel owned Mobileye Global Inc, are a self-driving car company that have recently raised $861 million in an initial public offering (IPO). Intel acquired the company for $15.3 billion back in 2017.

Mobileye said in a press release it has priced 41 million shares at $21 per share, which values the company at $16.7 billion. Selling only a 5% stake in itself, Intel will retain a large stake. Mobileye's shares are scheduled to start trading on Wednesday on the Nasdaq under the ticker "MBLY".

Artificial intelligence market

The AI market size globally was valued at around $65 billion in the past year, and is expected to hit approximately $1,600 billion by 2030. AI is an area of computer science that develops technology that can teach it self to make choices and autonomously complete actions on behalf of people.

Rise in demand for intelligent systems to enhance efficiency and productivity are propelling the growth of the global artificial intelligence market in industries such as ;

• Automated self driving vehicle systems like Tesla. Machine learning and visual recognition are used in autonomous vehicles to help the car understand its surroundings and be able to react accordingly.
• Data & analytic processing from Meta, YouTube and Netflix. Online platforms utilize algorithms to learn more about your preferences and predict what you’ll want to view or shop for next.
• Personal digital assistance like Siri or Alexa. Reactable voice assistant that can help us scour the web for information, shop, schedule appointments, set alarms and a million other things
• Factory and warehouse systems. Shipping and retail industries will never be the same thanks to AI-related software systems that automate the entire shipping process.

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