Intel Is Exploring Sale of Part of Stake in Mobileye

Intel Corp. is considering options for its stake in its struggling automated driving systems provider Mobileye Global Inc. as part of a major strategy overhaul, people with knowledge of the matter said. Shares of Mobileye fell to a record low.

The chipmaker could offload some of its 88% holding in Mobileye on the public market or via a sale to a third party, according to the people, who asked not to be identified because the information was private. Mobileye has a board meeting later this month in New York, where Intel’s plans will be considered, one of the people said.