Intel plans stock sale to expand foundry capacity

Intel plans to raise capital through an underwritten public offering of common stock to support its foundry expansion. The move would dilute existing shareholders by issuing additional shares, while giving the company a way to fund manufacturing growth without adding loans. JPMorgan, Goldman Sachs, Morgan Stanley, and Citigroup are serving as joint book-running managers for the offering.

The company pointed to sustained customer demand driven by investment in AI compute as a key reason for expanding capacity. Intel also cited growth opportunities in physical AI, purpose-built silicon, advanced packaging, and external wafers, suggesting demand for Intel Foundry services is outpacing current manufacturing and packaging capacity.