Intel announced on August 10 it will raise $15 billion through a public share sale to fund the expansion of its contract chip-manufacturing business, betting on surging AI-driven demand for advanced processors. Proceeds will finance new fabrication facilities and advanced packaging capabilities as the company races to compete with TSMC for outside customers.
The raise comes after a striking turnaround: Intel's stock has nearly tripled in 2026, far outpacing AMD and the broader Philadelphia Semiconductor Index. Despite that rally, shares fell more than 4% in early trading on the announcement as investors weighed the dilution from new stock against the growth opportunity. Intel already lifted its 2026 capital-expenditure forecast from $18 billion to $20 billion in July and separately committed roughly €5 billion to upgrade manufacturing in Ireland.
Intel says it has secured Tesla as a customer for its next-generation 14A chip process, with high-volume production targeted for 2028. JPMorgan, Goldman Sachs, Morgan Stanley and Citigroup are managing the offering, which includes a 30-day option for underwriters to buy an additional $2.25 billion in shares.