On Thursday overnight, Mobileye Global's stock price surged nearly 19% to $13.79 at one point during trading, marking the largest single-day gain in nearly two years, before closing with a slight dip at a 14.99% increase.

The reason for the stock's surge was that on Thursday, September 19th, Eastern Time, Intel announced that it is "not currently considering" selling a significant portion of its shares in its subsidiary Mobileye Global.

This clarification statement eased investors' concerns, as Intel holds 88% of the shares in Mobileye.

Previously, on Thursday, September 5th, Bloomberg, citing sources, reported that Intel was considering selling part of its Mobileye stake as a new move for "self-rescue," which could be sold in the open market or to a third party.

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In its statement, Intel expressed its confidence in the future of autonomous driving technology and believes that Mobileye has a unique leadership position in developing and deploying advanced driver-assistance systems.

Mobileye is a company that provides software and hardware for autonomous driving systems.

It was acquired by Intel for approximately $15 billion in 2017 and became a subsidiary of Intel.

Despite the company's initial public offering (IPO) in 2022, Intel still retained most of its shares.

Last year, Intel sold some of its shares, raising about $1.5 billion.

Currently, Mobileye's market value is around $11 billion, which means that if Intel sells its shares now, it would incur a loss.

Analyst Jake Silverman pointed out that Intel's decision to maintain control of Mobileye helps alleviate Intel's current financial pressure, as selling Mobileye now would result in greater losses and affect long-term financial health.

However, Intel's statement still leaves open the possibility of selling these shares in the future.

Intel CEO Pat Gelsinger has been making bold reforms in an attempt to save the company, focusing on core businesses to save cash flow.

Intel's latest measures include suspending the Poland and Germany factory projects for about two years, and the plan to lay off 15,000 workers has already been more than half implemented, as well as spinning off its Intel Foundry Services (IFS) division into a wholly-owned subsidiary.

Like Intel, Mobileye's performance this year has not been ideal.

Due to the slowdown in the automotive industry's sales, car manufacturers have lowered their production targets, leading the company to lower its performance forecast last month, dragging the stock price to a new low.

Before Thursday's stock rebound, Mobileye's stock had already fallen by 73% this year.