Intel, (NASDAQ:INTC),has faced significant challenges in 2024, with shares plummeting over 57% while the S&P 500 has risen approximately 18%. The company’s struggles primarily stem from its underperforming foundry business, which manufactures chips both fo...

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.

Shares of Mobileye Global were rising Thursday after majority shareholder Intel said it currently has no plans to divest a majority interest in the autonomous-driving company.Mobileye stock rose 8.6% in premarket trading.

Mobileye and Intel shares have both been under heavy pressure this year, but Intel says it has no current plans to sell its majority stake, as some had feared.

(Reuters) -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. Shares of Mobileye had taken a beating earlier this month after Bloomberg reported that Intel was looking to sell a portion of its stake in the company.

Intel said it has no plans to sell its majority stake in self-driving technology firm Mobileye, ruling out one potential cost-saving option for the beleaguered tech giant.

Shares in automotive chip maker Mobileye Global Inc. jumped nearly 15% today after its majority shareholder, Intel Corp., said that it has no plans to divest its interest in the company. Reports earlier this month suggested that Intel was considering offloading its 88% stake in the company via public markets or directly to a third party.

While chip stock Intel ($INTC) has done quite a few things to raise cash as it struggles to regain its place in the chip market, one thing that it