Intel launches a $15 billion stock offering, saying customers signal sustained demand for AI compute

The chipmaker is asking public shareholders to help pay for the capacity its customers say they need.

Intel said Monday it had launched a $15 billion underwritten public offering of common stock, with a 30-day option for underwriters to buy up to $2.25 billion of additional shares. The company said it intends to use the net proceeds for general corporate purposes, including capital expenditures and working capital, while maintaining a strong balance sheet and its commitment to an investment-grade rating. Intel framed the raise around demand, saying customers continue to signal a strong and sustainable demand environment driven by unprecedented investment in AI compute. J.P. Morgan Securities, Goldman Sachs, Morgan Stanley and Citigroup Global Markets are acting as joint book-running managers.