Intel z odloženo IPO Mobileye dosega še eno hitrost

Analiza Intel’s ambitious plan to become the leading chip manufacturer again has hit another speed bump as the planned initial public offering for its Mobileye business has been postponed.

Polprevodniški velikan razglasitve decembra je načrtoval, da bo do sredine leta 2022 svoje avtomobilsko tehnološko podjetje javno objavil prek IPO. Toda po mnenju a Nedeljsko poročilo izraelske tehnološke novice Calcalist, je bil ta načrt odložen, ker so se slabšane tržne razmere spodbudile Intel in Mobileye, da sta vsaj za zdaj pritisnila na zavore zaradi strahu, da bi ju javna uvrstitev izpostavila veliki nestanovitnosti na borzi.

In an internal memo seen by Israel’s Krogle as well as Calcalist, Mobileye CEO and founder Amnon Shashua said the Jerusalem-headquartered company’s desire to have a successful IPO and sustainable business “requires us to wait for the market to stabilize.”

“We still hope it will happen during 2022. This is all there is to it. In the meantime, our business is thriving, we are growing on all fronts and the future was never brighter,” he wrote.

Shashua said he is less concerned about how the timing of an IPO would impact Mobileye’s valuation:

V izjavi za Register, an Intel spokesperson insisted a Mobileye IPO is still happening in 2022 and pointed us to Intel’s Objava marca, da je pri ameriški komisiji za vrednostne papirje in borzo vložil zasebni osnutek izjave obrazca S-1 za IPO Mobileye.

“As we have said previously, we are working on our plans to take Mobileye public in 2022,” said the company spokesperson.

However, the spokesperson did allow that timing for the IPO is not set in stone: “We will take a range of factors into consideration when determining the most opportune IPO timing, and we’ll be sure to keep you apprised as we have more to share,” the Intel representative said.

Intel in Mobileye še zdaleč nista edina pri odlaganju načrtov za IPO, saj trg trpi zaradi gospodarstva, ki se spopada z inflacijo, visokimi obrestnimi merami in strahom pred recesijo. Od sredine junija je več kot 300 podjetij čakalo, da se borza stabilizira, preden so izvedla načrte za IPO, po to Barron’s.

Why Mobileye’s IPO matters to Intel’s comeback plan

Intelov izvršni direktor Pat Gelsinger je dejal proizvajalec čipov namerava uporabiti vsaj nekaj prihodkov od IPO Mobileye za financiranje svoje drage širitve proizvodnje.

Gradnja, ki vključuje nove obrate v Združene države Amerike in Evropa, je del Gelsinger’s ambitious comeback plan za Intel, da se vrne po preteklih napačnih korakih in do leta 2025 preseže azijska livarska velikana TSMC in Samsung z najsodobnejšo proizvodno tehnologijo do leta XNUMX.

The issue is, Intel’s investors have not been happy with how the high costs of the comeback plan will bring the company to a negative cash flow this year in the order of $1 billion to $2 billion in addition to causing gross margins to dip over the next few years.

The company’s financials are set to take a hit because Intel plans to use roughly 35 percent of its 2022 revenue for capital expenditure, which will then go down to 25 percent for 2023 and 2024, when the company expects its cash flow to become neutral.

Intel upa, da mu bo teh nekaj let velike porabe omogočilo, da pride na prvo mesto v industriji z višjimi bruto maržami, dvomestno rastjo prodaje in znatnim prostim denarnim tokom do leta 2025–2026.

But depending on how long the Mobileye IPO is delayed, Intel could face additional financial pressure in the near term if the company can’t tap into the proceeds from the IPO when it had originally planned.

This represents yet another bottleneck in Intel’s comeback plan in addition to the most pressing issues around whether Congress will pass dolgotrajni predlog zakona o subvencijah za čipe, ki bi pomagal financirati njegovo širitev proizvodnje v ZDA. ®