Mobileye Board Authorizes $250 Mln Share Buyback Program

(RTTNews) - Mobileye Global Inc. (MBLY) a United States-domiciled, Israel-headquartered autonomous driving company, said Thursday its board authorized a share repurchase program of up to $250 million of Class A common stock.

The program is intended to partially offset dilution from share-based compensation and shares issued for the Mentee Robotics acquisition, while preserving financial flexibility to invest in its core automotive business and physical AI platform.

Mobileye plans to finance the program from existing cash on hand and future cash flows.

On the New York Stock Exchange, shares of Mobileye were gaining 13.04 percent in pre market activity at $43.99, after closing Wednesday's regular trading 0.38 percent higher at $7.90.