Mobileye raises annual revenue view on strong self-driving chip demand

(Reuters) - Self-driving technology firm Mobileye Global (MBLY.O), raised its forecast for fiscal 2025 revenue on Thursday, anticipating a rise in orders for its autonomous driving chips as customers clear existing inventory.

Shares of the company rose around 6% in premarket trading.

Automakers have largely resumed placing orders for self-driving hardware after an inventory surplus — caused by COVID-19-related supply concerns some years ago — led to a prolonged slump in demand.