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.

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.

Mobileye and Intel shares have both been under heavy pressure this year, but Intel says it has no current plans to sell its majority stake, as some had feared.

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%!

Key Takeaways Intel said it will not sell its majority stake in Mobileye, which develops technology self-driving vehicle companies. Selling part or all of Mobileye could have raised some capital as part of Intel's larger turnaround plans.

Mobileye stock rose 8.6% in premarket trading. Intel shares gained 2.1%. “By providing Mobileye with separation and autonomy, we have enhanced its ability to capitalize on growt