Mobileye Global shares surged the most in nearly two years after Intel said it isn’t “currently” preparing to unload its majority stake in the maker of autonomous driving technology.

Intel is considering options for its stake in its struggling automated driving systems provider Mobileye as part of a major strategy overhaul, people with knowledge of the matter said. 

Amnon Shashua, co-founder and CEO of Mobileye, sees self-driving technology moving ahead over the next few years, allowing for more widespread adoption of the functionality.

Intel Corp. said its Mobileye self-driving car business has filed confidentially for an initial public offering.

Intel Corp. plans to list shares of its Mobileye self-driving car business by the middle of next year, letting the chipmaker capitalize on its investment in a burgeoning industry.

Michigan Gov. Gretchen Whitmer has announced a partnership with the autonomous vehicle technology company Mobileye to create a pilot program focused on advanced driving systems.