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%!

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.

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 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.

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

Key Takeaways Intel is reportedly considering selling off some of its stake in MobilEye, which was recently near 90%.A Bloomberg report said Intel might offload some of its stake in a public sale or third-party transaction.

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.

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.

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