Intel plans to raise $15B through an underwritten public offering of common stock, what Bloomberg says may be the chipmaker’s first public share sale since its 1971 listing.
The move gives Intel cash to fund its AI-era manufacturing push at a moment when its stock has climbed from roughly $20 to about $100 since Lip-Bu Tan took over as CEO in March 2025. Investors still balked at the dilution, sending shares down roughly 4 percent in early trading.
Net proceeds will go to general corporate purposes, including capital expenditures and working capital. Intel cited “unprecedented investment in AI compute” and growth in physical AI, purpose-built silicon, advanced packaging and external wafers, and reaffirmed its commitment to an investment-grade rating.
Underwriters hold a 30-day option to buy up to $2.25B in additional shares. J.P. Morgan, Goldman Sachs, Morgan Stanley and Citigroup are joint book-running managers, with a registration statement on Form S-3 now on file with the SEC.
The offering lands as Intel pours money into its foundry turnaround, including 18A production in Arizona and High-NA EUV tooling, while rivals TSMC and Samsung flag similarly massive capacity spending.
