That majority shareholder is Intel Corp. which is struggling to get back on track after a series of technological missteps. Intel is also in the midst of a costly bid to regain manufacturing leadership and to serve as a foundry that makes chips for other semiconductor companies.

Autonomous driving stock Mobileye (MBLY) is surging higher today after assurances from majority stakeholder Intel (INTC)

Mobileye Global Inc. shares surged the most in nearly two years after Intel Corp. said it isn’t “currently” preparing to unload its majority stake in the maker of autonomous driving technology, easing investors’ fears.

Struggling chipmaker Intel said on Thursday it had no plans to divest a majority stake in Mobileye , sparking an 8% rise in the self-driving tech firm's shares in premarket trading.

Key Takeaways Intel said it will not sell its majority stake in Mobileye, which develops technology self-driving vehicle companies. Selling part or all of Mobileye could have raised some capital as part of Intel's larger turnaround plans.

Mobileye stock rose 8.6% in premarket trading. Intel shares gained 2.1%. “By providing Mobileye with separation and autonomy, we have enhanced its ability to capitalize on growt