Mobileye Global Inc. (NASDAQ:MBLY) stock dropped 15.5% as Intel Corp. sold $900 million stake, part of a restructuring plan. Intel Overseas Funding Corp. plans to sell 50 million MBLY shares at $16.5 each for $825 million, with option for 7.5 million more for $123.75 million, totaling $948.75 million.

Intel plans to convert 50 million MBLY Common B shares to Common A shares. Mobileye to repurchase over 6.2 million shares at underwriters’ purchase price. Despite potential, some believe other AI stocks offer better returns. For info on a promising AI stock, see the free report on the best short-term AI stock.

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Read more at Yahoo Finance: Mobileye (MBLY) Slashes 15.5% on Intel Corp. Unloads $900-Million Stake