The chipmaker will issue new shares to capitalize on surging demand for AI-driven computing infrastructure.
Intel will raise $15 billion through a common stock offering, with underwriters granted a 30-day option to purchase an additional $2.25 billion. Proceeds will target growth opportunities in AI compute and physical infrastructure, the company said.
The offering follows a period of heightened investment in AI-related technologies, with Intel aiming to bolster its competitive position against rivals. No prior equity sale of this scale has been announced by the company in recent years.
Shares of INTC were last indicated slightly lower in after-hours trading.