Shares of Mobileye Global rose 27% out of the gate in their trading debut, in one of the highest-profile and largest initial public offerings of the year. Intel automated car-driving unit initially traded at $26.71, above its IPO price of $21 a share. That gives Mobileye a valuation of more than $21 billion. The stock opened on the Nasdaq stock market a little before midday Wednesday, trading under the symbol MBLY. More than 3.5 million shares changed hands in the opening trade.

Shares of tech companies rebounded after a stellar stock-market debut for a software company quieted fears about lack of appetite for new tech issues. Nutanix shares more than doubled on its stock-market debut after the maker of software for data management priced its initial public offering above expectations. Japanese conglomerate Softbank's Chief Executive Masayoshi Son said the company plans to invest around 4.5 billion in South Korea's technology sector over the next decade, expressing interest in emerging fields of smart robots, the "Internet of Things" and artificial intelligence.