Reports: Intel reduces Mobileye's IPO valuation to $30 billion

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According to Bloomberg, Intel (NASDAQ: INTC) has drastically lowered

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Its previously anticipated $50B valuation for Mobileye's upcoming initial public offering to $30B.

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The news source also mentioned that the share sale might be postponed,

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Citing insiders with knowledge of the procedure, and pointed out that the general stock market

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Downturn causes both the valuation decline and potential postponement.

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If semiconductor stocks recover, the IPO may still take place, but if they remain underperforming,

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It will be delayed, according to Bloomberg.

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