Intel’s deal shows the resilience of investor demand for stocks along the artificial intelligence supply chain.
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Intel Corp. raised $20 billion in an upsized share sale, a third more than it was targeting when it announced the deal Monday morning.The chipmaker priced the offering at $95 per share, according to a company statement. That represents a discount of 6.5 per cent to Friday’s closing price, according to Bloomberg calculations. The share sale drew more than $100 billion in demand, people familiar with the matter said. Intel’s deal shows the resilience of investor demand for stocks along the artificial intelligence supply chain. The year’s biggest US equity offerings have been dominated by companies riding the boom in AI spending. Alphabet Inc. is in the process of raising as much as $85 billion through equity offerings, including so-called at-the-market share sales and equity-linked deals. And Oracle Corp.’s fundraising plans include a $20 billion at-the-market sale.South Korean memory chipmaker SK Hynix Inc. raised $26.5 billion in its debut offering of American depositary receipts, the largest-ever listing by a foreign company on a US exchange. Its rival CXMT Corp. raised about $9.9 billion last month in a near Chinese record initial public offering and subsequently became the largest mainland-listed company.Intel’s shares were little changed in after-hours trading after falling 4.1 per cent on Monday during normal market hours. They remain up roughly 164 per cent this year, after Chief Executive Officer Lip-Bu Tan made cleaning up Intel’s finances a priority. The effort has included attracting outside investments from the US government and even chip rivals such as Nvidia Corp.Intel is building up cash reserves with a goal of taking on a more central role in the artificial intelligence boom. The worldwide expansion of data centers has already bolstered demand for its general processors, but the company has struggled to compete directly with Nvidia and Advanced Micro Devices Inc. in the market for AI processors. Intel also needs funds to build out a factory network to meet its goal of serving as an outsourced manufacturing hub for the tech industry. JPMorgan Chase & Co., Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. are working on the offering, according to a statement earlier.Published on August 11, 2026
