U.S. chipmaker Intel said Monday it was planning to raise $15 billion through a common stock offering as – amid turnaround efforts – it seeks to meet accelerating demand for artificial intelligence computing.
Intel said the proceeds would be used for general corporate purposes, including capital expenditures and working capital.
Once a dominant force in the global chip industry, Intel is investing heavily in new facilities and advanced packaging capabilities as it seeks to challenge industry leaders such as TSMC in contract chip manufacturing.
The company identified physical AI, purpose-built silicon and advanced packaging as key growth opportunities as technology firms expand the infrastructure needed to support AI services.
The offering includes a 30-day option allowing underwriters to purchase up to an additional $2.25 billion in Intel shares, potentially increasing the total proceeds to $17.25 billion.
