BofA Keeps Intel Buy as $20B Offering Fuels Foundry Push
TL;DR
Bank of America maintains a Buy rating on Intel after a $20 billion stock offering (210.5 million shares at $95) would dilute existing holders by about 4–5%, but the bank says the funds could accelerate Intel’s foundry expansion and advanced packaging, potentially boosting wafer fabrication share by 2030. BofA lowers its price target to $145 from $160 due to dilution and weaker AI‑focused semiconductor multiples, while noting execution risks around yields, process ramps, and rival packaging competition.
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- Intel upsizes stock offering to $20 billion at $95 per share as AI demand accelerates CNBC
- Intel Raises $20 Billion in Upsized Share Sale for AI Plans Bloomberg.com
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