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.

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.

Intel said it will not sell its majority stake in self-driving technology firm Mobileye. Selling part or all of Mobileye could have raised some capital as part of Intel's larger turnaround plans. Shares of Intel have lost more than half their value this ...

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 9.8% in Thursday trading.

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.

That news is behind the surprising strength in shares of Intel stock (up 3% through 11:10 a.m. ET), and in Alphabet (up 1.8%), and in Mobileye most of all -- up 15.3%!

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

The share price of advanced driving assistance systems (ADAS) company Mobileye Global Inc. (Nasdaq: MBLY) is up 8% in premarket trading after Intel Corp. (Nasdaq: INTC) made it clear that it has no plans to divest its majority stake in the Israeli company.