Intel's Mobileye Unit for Self-Driving Cars Opens Above IPO Range

Mobileye began tradingWednesday on the Nasdaq stock exchange under the symbol MBLY.

Mobileye raised $861 million on the sale of 41 million shares.

Its existing advanced driver-assistance system cameras are built into models from Volkswagen, BMW, Toyota and others.

Rising inflation and interest rates, combined with recession fears, have pushed investors to safer alternatives.

Mobileye representatives didn’t respond to a request for comment.