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.

Intel said on Thursday it had no plans to sell its majority stake in Mobileye Global, sending shares of the self-driving tech firm up more than 8% in premarket trading.Mobileye shares, which are down 73% this year,

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.

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