Intel Plans $15 Billion Stock Offering to Fund Chip Manufacturing Expansion

Intel announced plans on Monday, August 10, to raise $15 billion through a public stock offering, seeking to capitalize on a surge in its share price to fund the expansion of its chip contract manufacturing business. The offering, which includes an option for underwriters to purchase an additional $2.25 billion in shares, comes as the company invests heavily in new facilities to compete with industry leader Taiwan Semiconductor Manufacturing Co.

The chipmaker's shares fell more than 3% in premarket trading following the announcement, likely reflecting investor concerns about dilution from the new equity sale. Intel's stock has more than doubled in 2026, outperforming rivals, and the company is now cashing in on that rally. The offering is being managed by JPMorgan Securities, Goldman Sachs, Morgan Stanley, and Citigroup Global Markets as joint bookrunning managers.

Intel stated that the net proceeds will be used for general corporate purposes, which may include capital expenditures and working capital. The company is in the midst of a costly buildout of its foundry unit, which manufactures chips for other companies. In July, Intel raised its capital expenditure forecast for 2026...