Intel Plans $15 Billion Stock Sale As AI Demand Puts Its Factories Into Overdrive. Stocks Fall.

Source: International Business Times

Justin Sullivan/Getty Images Intel is turning to the stock market for billions of dollars in fresh capital as the artificial intelligence infrastructure boom drives demand for chips and manufacturing capacity to new heights. The semiconductor giant announced Monday that it plans to raise $15 billion through an underwritten public offering of common stock, saying the money be used for "general corporate purposes, which may include, but are not limited to, capital expenditures and working capital. " They also said it will help support investments needed to meet accelerating customer demand for AI computing.