Intel has confidentially submitted an initial public offering of its Mobileye automotive business, a move that CEO Pat Gelsinger says will help fund the chipmaker’s multi-billion dollar comeback plan.

The semiconductor giant revealed on Monday that it had filed a private draft statement on Form S-1 for Mobileye’s IPO with the United States Securities and Exchange Commission. The confidential filing is permitted under Rule 135 of the United States Securities Act of 1933, which means that no financial details of the IPO are available for public consumption.

The IPO would mark a return to the public market for Mobileye, which Intel acquired in 2016 for $15 billion to pursue self-driving vehicle ambitions after an initial IPO in 2014.

While Intel said it has yet to determine the price range for Mobileye’s IPO, Reuters reported that the IPO could value Mobileye at “more than $50 billion.” That would represent about a quarter of Intel’s market capitalization, which was $195 billion as of early Monday afternoon.

Intel didn’t provide a timeline for Mobileye’s IPO, but said it would happen once the SEC completes its review, though the offering is also subject to “other conditions.”

First announced in December, Intel said Mobileye’s IPO would “unlock the value of Mobileye for Intel shareholders” as semiconductors make up an increasingly large proportion of materials in premium vehicles, which Intel expects to reach 20% by 2030.

Intel plans to remain Mobileye’s majority shareholder after the IPO, which will raise funds for the automotive technology provider by issuing new common stock. The two companies plan to continue working together on various solutions and technologies, including sensors.

Gelsinger previously said Intel will use some of the proceeds from Mobileye’s IPO to fund its costly plan to regain manufacturing leadership from chip foundries TSMC and Samsung, which, in turn, will help the companies’ struggle against rivals like AMD and Nvidia.

One of the biggest costs of Gelsinger’s plan is the new multibillion-dollar manufacturing plants Intel plans to build in Arizona and Ohio in the United States and, reportedly, in the city of Magdeburg in Germany. The company also recently announced its intention to acquire Israeli company Tower Semiconductor to expand its foundry capabilities. ®