NEW YORK (TheStreet) -- Shares of Intel (INTC) - Get Report are rising 0.85% to $32.20 in early-morning trading on Thursday as the chipmaker will work with Mobileye (MBLY) to develop self-driving car technology for BMW, sources told Bloomberg.
Mobileye stock is soaring 11.58% to $46.82 this morning.
Jerusalem-based Mobileye has been providing self-driving car components such as cameras and software to companies including BMW, GM and Tesla (TLSA), while Intel has produced components for cars' entertainment and information systems, Bloomberg reports.
Intel nonetheless remains behind companies such as NXP Semiconductors (NXPI) and Infineon Technologies (IFNNY) in providing chips to carmakers.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B+.
Intel's strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in net income and growth in earnings per share outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: INTC
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.