The big news of today concerns a rumor that Intel is going to buy Mobileye, an Israeli technology firm that makes advanced driver assistance systems (ADAS) as well as software and hardware for self-driving cars. The original Tesla Autopilot used Mobileye's technology, but Tesla's Autopilot 2.0 system uses hardware from NVIDIA.
The origin of the rumor is TheMarket, a leading Israeli financial newspaper. An announcement from Intel is expected later today and word on the street is this will be a transaction valued at $14 billion to $15 billion:
Chipmaker Intel has agreed to buy Israeli technology firm Mobileye for $14 billion to $15 billion dollars, according to TheMarker, one of Israel's leading financial newspapers.
The midway figure points to a premium of almost 40 percent versus Mobileye's closing market cap on Friday and shares are up 30.74 percent in pre-market trading.