{"id":62144,"date":"2024-09-19T13:27:49","date_gmt":"2024-09-19T13:27:49","guid":{"rendered":"https:\/\/efimarkets.com\/blog\/?p=62144"},"modified":"2024-09-19T13:30:43","modified_gmt":"2024-09-19T13:30:43","slug":"mobileye-shares-surge-as-intel-confirms-it-wont-divest-majority-stake","status":"publish","type":"post","link":"https:\/\/bhimmarkets.com\/blog\/mobileye-shares-surge-as-intel-confirms-it-wont-divest-majority-stake\/","title":{"rendered":"Mobileye Shares Surge as Intel Confirms It Won&#8217;t Divest Majority Stake"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"62144\" class=\"elementor elementor-62144\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b6cb8c9 e-con-boxed e-flex e-con\" data-id=\"b6cb8c9\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1a28695 elementor-widget elementor-widget-image\" data-id=\"1a28695\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.investing.com\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" width=\"800\" height=\"533\" src=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/09\/ml.jpg\" class=\"attachment-large size-large wp-image-62147\" alt=\"Mobileye Shares Surge\" srcset=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/09\/ml.jpg 800w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/09\/ml-300x200.jpg 300w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/09\/ml-768x512.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-655bef9 e-con-boxed e-flex e-con\" data-id=\"655bef9\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e47f8ee elementor-widget elementor-widget-text-editor\" data-id=\"e47f8ee\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h3><span style=\"color: #000000;\">Mobileye Shares Surge After Intel Confirms No Plans to Sell Stake<\/span><\/h3><p><span style=\"color: #000000;\">Mobileye Shares Surge in pre-market trading on Thursday after Intel (NASDAQ: INTC), the company\u2019s majority shareholder, announced it has no plans to divest its stake in the autonomous driving firm.<\/span><\/p><h3><span style=\"color: #000000;\">Previous Speculation on Intel\u2019s Stake in Mobileye<\/span><\/h3><p><span style=\"color: #000000;\">Earlier reports from Bloomberg News suggested that Intel was considering its options regarding Mobileye as part of a broader strategy shift. According to sources, the chipmaker was exploring selling part of its 88% holding in Mobileye, either through public markets or to a third party.<\/span><\/p><h3><span style=\"color: #000000;\">Mobileye Faces Challenges Amid Industry Slowdown<\/span><\/h3><p><span style=\"color: #000000;\">Mobileye, which develops software and hardware for self-driving vehicles, has been facing headwinds. A post-pandemic supply glut has led to reduced production by automakers, impacting Mobileye&#8217;s financial performance. In August, the company lowered its financial forecasts and is currently heading for its third consecutive annual loss.<\/span><\/p><h3><span style=\"color: #000000;\">Intel Reaffirms Commitment to Mobileye<\/span><\/h3><p><span style=\"color: #000000;\">In response to the speculation, Intel released a statement reaffirming its commitment to Mobileye. The company emphasized its &#8220;unwavering focus on value creation&#8221; and expressed excitement about Mobileye&#8217;s future.<\/span><\/p><p><span style=\"color: #000000;\">Intel highlighted Mobileye\u2019s unique position as a leader in developing and deploying advanced driver assistance systems (ADAS). These systems are crucial in the growing autonomous vehicle market, which is expected to see significant expansion in the coming years.<\/span><\/p><h3><span style=\"color: #000000;\">Intel\u2019s Broader Strategy: Cost-Cutting and New Partnerships<\/span><\/h3><p><span style=\"color: #000000;\">This update comes as Intel continues to adjust its overall strategy. The company recently announced a temporary halt in construction of new plants in Germany and Poland as part of a $10 billion cost-cutting plan. This strategy has included a reduction in capital expenditures and a 15% cut to the company\u2019s workforce, impacting more than 15,000 employees.<\/span><\/p><p><span style=\"color: #000000;\">Despite these cuts, Intel recently unveiled a partnership with Amazon (NASDAQ: AMZN) through its chip production service. Additionally, Intel secured up to $3 billion in investment from the Biden administration to produce advanced semiconductors for the US military.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Mobileye Shares Surge After Intel Confirms No Plans to Sell Stake Mobileye Shares Surge in pre-market trading on Thursday after Intel (NASDAQ: INTC), the company\u2019s majority shareholder, announced it has no plans to divest its stake in the autonomous driving firm. Previous Speculation on Intel\u2019s Stake in Mobileye Earlier reports from Bloomberg News suggested that &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/bhimmarkets.com\/blog\/mobileye-shares-surge-as-intel-confirms-it-wont-divest-majority-stake\/\"> <span class=\"screen-reader-text\">Mobileye Shares Surge as Intel Confirms It Won&#8217;t Divest Majority Stake<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":62147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[3],"tags":[15,20,14,5,34,43],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mobileye shares surge after Intel announces<\/title>\n<meta name=\"description\" content=\"Mobileye shares surge after Intel 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