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.

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.

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...