2 weeks ago
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Reuters
Mon, August 10, 2026 astatine 7:05 AM CDT 1 min read
Aug 10 (Reuters) - Intel connected Monday said it is readying to rise $15 cardinal done a stock sale, arsenic it looks to money the costly build-out of its spot contract manufacturing concern by cashing successful connected a banal surge fueled by its turnaround efforts.
Once a ascendant unit successful the planetary spot industry, Intel is investing heavy successful caller facilities and precocious packaging capabilities arsenic it seeks to situation manufacture leaders specified arsenic TSMC successful declaration spot manufacturing.
Its shares fell much than 3% successful premarket trading, apt connected concerns astir shareholder dilution from the banal sale. The banal has much than doubled this year, outperforming rivals.
The displacement toward AI agents has powered request for cardinal processing units, with Intel executives saying that orders have outstripped the company's manufacturing capacity.
This booming request led the chipmaker to rise its superior expenditure forecast for this twelvemonth from $18 cardinal to $20 cardinal successful July.
It besides committed to high-volume accumulation of chips utilizing its 14A manufacturing process successful 2028, aft antecedently informing the exertion could beryllium shelved without a large outer customer.
Its foundry portion has won Tesla arsenic a 14A lawsuit and optimism for different marquee lawsuit grew aft U.S. President Donald Trump said Apple would marque processors with Intel, though neither institution confirmed it.
Intel plans to springiness underwriters a 30-day enactment to bargain up to $2.25 cardinal worthy of further shares astatine the connection price, minus discounts.
JPMorgan Securities, Goldman Sachs, Morgan Stanley and Citigroup Global Markets are acting arsenic joint book-running managers.
(Reporting by Anhata Rooprai successful Bengaluru; Editing by Joyjeet Das and Arun Koyyur)
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