Intel to raise $15bn in share sale

(Sharecast News) - Intel said on Monday that it was planning to raise $15bn in a share sale amid a rise in demand for AI computing. The company said in a brief statement that proceeds will be used for general corporate purposes, which may include capital expenditures and working capital.

"Customers continue to signal a strong and sustainable demand environment, driven by unprecedented investment in AI compute," it said. "Progress in emerging areas including physical AI, purpose-built silicon, advanced packaging and external wafers represent significant growth opportunities for Intel."

Intel said the offering is intended to further enable the company to pursue growth opportunities ahead while maintaining a strong balance sheet and its commitment to an investment-grade rating.

At 1520 BST, Intel shares were down 3.9% at $97.70.