Intel taps $15B equity raise to fund AI-led turnaround, shares slide

Intel disclosed a surprise plan to raise $15 billion through an underwritten public stock offering, sending INTC shares down about 4.6%. The net proceeds will go to general corporate purposes, heavy-capex, and working capital to support its turnaround and capitalize on surging AI compute demand. Management framed the move as prudent financing aligned with customer demand and strict return discipline, while analysts largely viewed it as a sensible option given the stock price despite near-term dilution. JPMorgan, Goldman Sachs, Morgan Stanley, and Citigroup are leading the offering.