Intel Is Increasing The Amount Of Money It's Raising As AI Demand Soars. Its Stock Is Flat.

Source: International Business Times

Intel's investments are expected to focus heavily on factory tooling as the company expands manufacturing of its advanced processors and attempts to establish its foundry business as a major alternative to Taiwan Semiconductor Manufacturing Co. Intel has increased its planned stock offering to $20 billion from $15 billion, seeking additional capital as booming artificial intelligence demand pushes the chipmaker to increase spending on manufacturing capacity. The company priced the offering at $95 per share and expects the transaction to close on Aug.