Mobileye gained 14.99% to close at $13.35 on Thursday, marking its largest intraday jump since late October 2022.

“We currently do not have any plans to divest a majority interest in the company,” Intel said in a statement.

“By providing Mobileye with separation and autonomy, we have enhanced its ability to capitalize on growth opportunities and accelerate its path to creating even greater value.”

Read Also: What’s Going On With Autonomous Driving Stock Mobileye Thursday?

Intel, which holds an 88% stake in Mobileye, said it believes in the future of autonomous driving technology and in Mobileye's “unique role as a leader” in developing advanced driver assistance systems.

Intel discussed possibly selling some its Mobileye stake either on the public market or through a third-party sale, Bloomberg reported earlier this month.

Mobileye, which provides both software and hardware for self-driving systems, was acquired by Intel in 2017 for about $15 billion. It had an initial public offering in 2022, but Intel held most of the stake.

Read Now:

• Mobileye Lowered Revenue Outlook But These Analysts Are Still Bullish – Here’s Why

Photo: Ilan Ben Oudiz via Wikimedia Commons