(Reuters) -Struggling chipmaker Intel said on Thursday it had no plans to divest a majority stake in Mobileye, sparking an 8% rise in the self-driving tech firm's shares in premarket trading. Shares of Mobileye had taken a beating earlier this month after Bloomberg reported that Intel was looking to sell a portion of its stake in the company.

That majority shareholder is Intel Corp. which is struggling to get back on track after a series of technological missteps. Intel is also in the midst of a costly bid to regain manufacturing leadership and to serve as a foundry that makes chips for other semiconductor companies.