Yahoo Finance Live's Seana Smith looks at several stocks trending in the after-hours trading session.
(Bloomberg) -- Intel Corp. has filed for an initial public offering of its self-driving technology business, Mobileye Global Inc., braving the worst market for new US listings since the financial crisis more than a decade ago. Most Read from BloombergMacKenzie Scott Files for Divorce From Science Teacher HusbandTop Apple Executive Is Leaving After Making Crude Remarks in TikTok VideoMeta to Cut Headcount for First Time, Slash Budgets Across TeamsMarjorie Taylor Greene’s Husband Files for Divorce
Intel did not reveal how much stake it will retain in the unit when it goes public, but the chip giant has previously said it will retain a majority stake. The filing comes when investor interest in IPOs has waned significantly due to recent stock market volatility fueled by aggressive rate hikes by global central banks and geopolitical tensions. The move to list Mobileye is part of Intel's broader strategy under Chief Executive Officer Pat Gelsinger to turn around its core business.