US chipmaker Intel announced on Monday that it plans to raise $15 billion through a common stock offering as it seeks to expand its capabilities amid rapidly growing demand for artificial intelligence computing.
Intel said proceeds from the offering would be used for general corporate purposes, including capital expenditure and working capital.
The semiconductor company identified physical AI, purpose-built silicon and advanced packaging as key areas of potential growth as technology companies invest heavily in infrastructure required to support increasingly powerful AI applications.
Underwriters will also have a 30-day option to purchase up to an additional $2.25 billion worth of shares, which could increase the total size of the offering to $17.25 billion.
The fundraising comes as major technology companies significantly increase spending on AI computing infrastructure, data centres and semiconductor capacity to meet surging demand.
Intel is seeking to strengthen its position in the rapidly evolving semiconductor market as AI drives greater demand for specialised processors and advanced chip technologies.
The announcement weighed on the company’s stock, with Intel shares falling around 4.8% in premarket trading on Monday.