Intel plans $15B stock offering to fund AI expansion

US chipmaker Intel announced Monday that it plans to raise $15 billion through a common stock offering as it seeks to meet accelerating demand for artificial intelligence computing.

Intel said the proceeds would be used for general corporate purposes, including capital expenditures and working capital.

The company identified physical AI, purpose-built silicon and advanced packaging as key growth opportunities as technology firms expand the infrastructure needed to support AI services.

The offering includes a 30-day option allowing underwriters to purchase up to an additional $2.25 billion in Intel shares, potentially increasing the total proceeds to $17.25 billion.

Major technology companies have sharply increased AI-related investment amid rising demand for computing power, data centers and memory chips.

Intel shares fell about 4.8% in premarket trading following the announcement.