Intel's spinoff autonomous firm Mobileye (NASDAQ: MBLY) gained in premarket but fell 6% after reporting strong Q2 results, beating estimates and raising its FY outlook. EyeQ volumes up 28%.
The company stated that the new guidance includes its estimates of production impacts related to current tariffs imposed on complete vehicles imported into the United States and tariffs on imported vehicle components used in U.S. vehicle production.
Financial discipline, a critically acclaimed new processor, and a major foundry partnership have created positive momentum for Intel ahead of its earnings.
Intel is also converting 50 million Class B shares into publicly traded Class A shares, while Mobileye will repurchase $100 million worth of stock directly from Intel.
Tesla had its anticipated Robotaxi debut this month, but Waymo remains ahead in the AV race thanks to LiDAR. Learn more about 2 companies making these systems.
Intel's shutdown of its automotive chip business signals a new strategic discipline, allowing for a sharpened focus on its core PC and data center markets.
