Why Mobileye Global Inc. (MBLY) Soared on Monday

We recently compiled a list of the 10 Firms Begin Trading Week With Impressive Gains. In this article, we are going to take a look at where Mobileye Global Inc. (NASDAQ:MBLY) stands against the other stocks.

The stock market kicked off the trading week on a positive note, with all major indices clocking in gains, as investors brushed off President Donald Trump’s latest imposition of hefty tariffs on steel and aluminum products from Canada and Mexico.

The Dow Jones rose 0.38 percent, the S&P 500 grew 0.67 percent, while the Nasdaq rallied 0.98 percent.

Ten companies mirrored a broader market optimism amid a series of positive catalysts sparking buying appetite.

In this article, we will take a look at which companies led the charge and explore the reasons behind their performance.

To come up with Monday’s best performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A driverless vehicle navigating city traffic, equipped with ADAS and safety features.

Mobileye Global Inc. (NASDAQ:MBLY)

Shares of Mobileye Global Inc. grew 11.82 percent on Monday to end at $17.97 apiece as investors cheered news of Lyft’s launching of autonomous robotaxis powered by MBLY as soon as 2026.

Marubeni, a Japanese conglomerate with experience managing fleets, will own and finance the MBLY-equipped vehicles that will show up on Lyft’s ride-hailing app.

According to Lyft executive vice president Jeremy Bird, the company plans to ramp up the release of thousands of vehicles across multiple cities after the Texas debut.

In other news, MBLY also earned an upgrade from Bank of America, raising it to “neutral” from “underperform,” citing reduced downside risks and being buoyed by potential catalysts in 2025.

According to analysts, while earnings growth may take until 2027, MBLY’s upcoming contract wins could support optimistic sentiment toward the company.

Overall MBLY ranks 7th on our list of Monday’s best performers. While we acknowledge the potential of MBLY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as MBLY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.