Intel has raised $20 billion through an expanded public share offering, selling new stock at $95 per share to help finance its costly push into chip contract manufacturing. The final tally exceeded the $15 billion target the company announced a day earlier, reflecting strong investor demand.
The proceeds will be directed toward capital expenditure and working capital. Intel raised its 2026 capital spending estimate to $20 billion from $18 billion in July. The company has pointed to growing demand for "physical AI" robotics as a key growth opportunity and has secured Google and SpaceX as foundry customers in recent months, while negotiations with Apple and discussions with Nvidia over a new processor contract are also underway.
Intel's shares have risen nearly threefold this year, more than quintupling over the past twelve months under CEO Lip-Bu Tan's turnaround strategy. The stock dipped roughly 4 percent on Monday ahead of the pricing.