Someone asked me "How does taking mobileye public increase value for intel shareholders?" His exact words. Quick answer: cash value.
Mobileye revenues are growing, it's no secret. That gives it a high asset value.
But splitting out the revenues coming from Mobileye will have an imperceptible effect on the remaining revenues coming into intel.
It's hundreds of millions from Mobileye buried in Intel revenues of $80 Billion. Which, by the way grew 70 percent yoy.
So selling that asset for $40 or $50 billion has minimal effect on revenues but more than doubles their cash available for opportunities.
Oh yeah, and the INTC dividend will likely remain the same as well. Remember that before selling your shares of INTC into this news. Every share held short must pay that dividend.
My sense is that short covering will help to rest share price to a more normalized level.

$Intel(INTC)$