Intel Corp.’s (NASDAQ:INTC) decision to increase its planned stock offering to $20 billion could add weight to tech investor Dan Niles’ bullish thesis that the chipmaker is nearing a "major foundry customer." Surging Demand Expands Capital Raise On Monday, Intel initially revealed plans for an underwritten public offering to raise $15 billion, sending shares lower in premarket trading.
However, following robust market demand, the company officially announced it has upsized the offering to $20 billion.
Intel priced 210,526,315 shares of common stock at a public offering price of $95 per share.
The move traces back to Intel's July 23rd earnings call, where Chief Financial Officer David Zinsner hinted at future fundraising.
Zinsner noted that while the company boasted $40 billion in liquidity, further action might be necessary.
