Intel-backed Mobileye Global Inc. (NASDAQ:MBLY) stock rose Tuesday after the autonomous driving company unveiled plans to move beyond supplying self-driving technology and into operating its own robotaxi business.
The gain came despite a broader selloff in technology stocks. The Nasdaq Composite was down 1.36%, the S&P 500 fell 0.31%, and the Technology sector declined 1.9%, making Mobileye one of the day’s relative outperformers.
Mobileye Expands Into Robotaxi Operations
Mobileye said Tuesday it will launch a vertically integrated robotaxi business, expanding beyond supplying autonomous driving technology into operating its own autonomous ride-hailing service.
The company plans to deploy an initial fleet of about 100 fully driverless vehicles in a major U.S. city in 2027, with a goal of scaling to about 17,000 vehicles over the following five years.
The new business will combine Mobileye Drive with Moovit’s mobility platform, including consumer apps, trip planning, fleet management and teleoperation capabilities.
Mobileye said the initiative will complement its existing business of supplying autonomous driving technology to automakers and mobility providers.
“This initiative is not a replacement for our existing partnerships; it is an extension of them,” CEO Prof. Amnon Shashua said.
Mobileye said more than 230 million vehicles worldwide have been built with its technology, while Moovit’s platform serves more than 1.7 billion users across more than 3,500 cities in 112 countries. Intel Corp. (NASDAQ:INTC) remains Mobileye’s majority owner.
Technical Analysis
Mobileye is attempting to stabilize after falling 36.8% over the past year, although the longer-term technical picture remains mixed.
The stock is trading 7.6% above its 50-day simple moving average of $9.06 and 11.5% above its 100-day SMA of $8.75. However, it remains 9.1% below its 200-day SMA of $10.73, indicating the longer-term downtrend is still intact.
The relative strength index stands at 48.87, signaling neutral momentum with neither overbought nor oversold conditions.
While the 20-day SMA has moved above the 50-day SMA, offering a constructive short-term signal, the death cross formed in August 2025, when the 50-day SMA crossed below the 200-day SMA, continues to weigh on the longer-term outlook.
Traders are watching resistance near $11.00, which aligns with the 200-day moving average, while support sits around $8.50 near the 100-day SMA.
Price Action
MBLY Stock Price Activity: Mobileye Global shares were up 2.47% at $9.77 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo by T. Schneider via Shutterstock
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