Intel raises $20 billion from upsized share sale

Intel completed a $20 billion equity offering on Tuesday, exceeding its initial target of $15 billion, according to filings and reports. The company priced shares at $95 per share, representing a 2.6% discount from the previous close. The capital raise comes as Intel seeks to fund its costly expansion into chip contract manufacturing, an area where it aims to compete with established leaders like TSMC.
The chipmaker’s shares experienced significant volatility during the offering process,