Intel Corp’s self-driving car unit Mobileye Global priced its initial public offering at $21 a share, a dollar above the top of its targeted range, according to sources.

Mobileye raised $861 million by selling 41 million shares, valuing the firm at almost $17 billion. That is greater than the $15.3 billion that Intel paid for the firm in 2017 but a far cry from the $50 billion or more than the chip giant originally set its sights on when it unveiled plans for the listing late in 2021.

Pricing an IPO right now is tricky given the parlous state of the market. Technology firms broadly have been among the hardest-hit sectors over the past 12 months, with the Nasdaq Composite down 26% from this point in 2021 when compared with the S&P 500’s roughly 15% loss.

Self-driving car technology was in hot demand several years ago, but that has cooled down. Mobileye faces stiff competition, including from Alphabet Inc.’s Waymo and Amazon.com Inc’s Zoox.

Underwriters and Intel overseeing the deal were determined to plow forward with the IPO, expected to be the last major listing of the year, with Intel’s CEO Pat Gelsinger having said that the chipmaker doesn’t need the money that the Mobileye offering would generate.

Listing Mobileye would give the self-driving car unit a higher profile and attract more business.