What's Going On With Autonomous Driving Stock Mobileye Thursday?
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Intel has decided not to divest its majority stake in Mobileye, leading to a rise in Mobileye's stock price. This increase is also influenced by a U.S. Federal Reserve rate cut. Additionally, Intel secured a multi-billion-dollar chipmaking deal with Amazon's cloud unit and received significant funding under the CHIPS and Science Act. Despite these developments, both Intel and Mobileye have faced stock declines over the past year, with Mobileye's stock down 70% due to lowered revenue guidance and challenges from weak demand in China.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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