Why mobileye Is Trending Today?

Intel sells $900 million stake in Mobileye, causing stock to dive.

Intel's planned sale of a $900 million stake in Mobileye, its autonomous vehicle unit, has sparked mixed market reactions, with some analysts seeing it as a positive move for Mobileye's independence, while others raise liquidity concerns for Intel. The sale comes amidst Intel's recent struggles and layoffs, with some viewing it as a desperate measure. Meanwhile, Mobileye has secured a new agreement with TSMC for chip production.

Intel plans to reduce its stake in Mobileye, selling $900 million worth of shares, despite Mobileye's Q2 outlook beating Wall Street forecasts.