Mobileye Jumps After Intel Says It Won’t Divest Majority Stake

Intel's Mobileye Jumps After Intel Says It Won’t Divest Majority Stake

Intel’s shares rose 3.5% to $26.61 in premarket trading on Wednesday.

Mobileye, an autonomous driving technology company owned by Intel, saw its shares jump in premarket trading on Wednesday after Intel announced it would not divest its majority stake in the company.

Intel had previously explored selling a majority stake in Mobileye in an initial public offering (IPO) but had put those plans on hold due to market conditions.

The decision to retain the majority stake is seen as a sign of confidence in Mobileye's business and its potential to drive Intel's growth in the autonomous driving market.

Mobileye's technology is used in over 100 million vehicles worldwide.

Mobileye's technology is used in over 100 million vehicles worldwide and is a key player in the development of autonomous driving systems.

The company's technology includes computer vision, machine learning, and mapping capabilities that enable vehicles to understand their surroundings and make decisions.

Mobileye has partnerships with major automakers such as BMW, Ford, and Volkswagen, and its technology is used in a variety of vehicles, including self-driving cars and advanced driver-assistance systems (ADAS).

Intel's decision to retain its majority stake in Mobileye is seen as a sign of confidence in the company's business.

Intel's decision to retain its majority stake in Mobileye is seen as a sign of confidence in the company's business and its potential to drive Intel's growth in the autonomous driving market.

Mobileye is a key player in the development of autonomous driving systems, and its technology is used in over 100 million vehicles worldwide.

The company has partnerships with major automakers such as BMW, Ford, and Volkswagen, and its technology is used in a variety of vehicles, including self-driving cars and ADAS.