Intel Corp. (NASDAQ: INTC) on Monday announced a public offering of common stock totaling $15 billion. The company intends to use the net proceeds for general corporate purposes, including capital expenditures and working capital. The offering is intended to support the company’s growth opportunities while maintaining a strong balance sheet and its commitment to an investment-grade credit rating. The company also expects to grant the underwriters a 30-day option to purchase additional common stock of up to $2.25 billion at the public offering price.
The semiconductor maker said customers continue to show strong and resilient demand, driven by increased investment in AI computing, as well as promising areas such as physical AI, custom silicon dies, and advanced packaging technologies, which create growth opportunities. In premarket trading on Nasdaq Intel shares fell 3.74% to $97.88.