Intel Raises $20 Billion in Upsized Share Sale to Fund Foundry Build-Out

Intel raised $20 billion from an upsized share offering priced on August 11 at $95 per share, a 2.6 percent discount to the prior close, Reuters reported. The company had initially targeted $15 billion, but expanded the sale as investors piled into a stock that has nearly tripled this year, outperforming AMD, Nvidia and the Philadelphia Semiconductor Index's roughly 75 percent rise. Intel's shares still fell more than 4 percent on the pricing day.

Funding the Foundry Ambition

The proceeds fund Intel's costly build-out of contract chip manufacturing as it seeks to challenge TSMC. Demand for AI-agent workloads has pushed CPU demand beyond Intel's manufacturing capacity, prompting the company to raise its 2026 capital expenditure forecast from $18 billion to $20 billion in July. Intel has committed to high-volume production on its 14A process in 2028 and won Tesla as a 14A customer, while optimism about another marquee client grew after President Donald Trump said Apple would make processors with Intel — a claim neither company has confirmed. Last month Intel announced a €5 billion ($5.77 billion) investment to upgrade its Irish plants, representing more than 25 percent of its planned 2026 capital spending.