Intel Corporation priced an upsized underwritten public offering of 210,526,315 shares of common stock at $95 per share, raising a gross $20 billion — up from a proposed $15 billion — with net proceeds of approximately $19.7 billion, the Santa Clara chipmaker said in an August 10, 2026 announcement. The offering is expected to close August 12, 2026, and the underwriters were granted a 30-day option for an additional 31,578,947 shares.
The largest Intel equity raise since 1971
The transaction is one of the largest common-stock deals in U.S. technology history and Intel's first primary share sale since its 1971 IPO. J.P. Morgan, Goldman Sachs, Morgan Stanley and Citigroup are joint book-running managers, with Barclays, BofA Securities, BNP Paribas, Deutsche Bank, Mizuho, RBC, TD Securities, Wells Fargo and Cantor also acting as book-runners.
Why Intel is raising cash
Intel said the net proceeds will be used for general corporate purposes, including capital expenditures and working capital. The company is deep into ramping Intel 14A and building out Intel Foundry's external customer roadmap while absorbing a heavy R&D burden and the mid-year U.S. government preferred-equity investment. The offering comes on top of prior asset sales and gives CFO David Zinsner far more balance-sheet room to sustain 2026-2028 capex without additional debt.
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For related industry moves this quarter see our coverage of the Nvidia 13F filing detailing its Intel stake and our chip M&A report on Diodes' $250M ElevATE Semiconductor purchase.
Reporting based on Intel Newsroom, CNBC and StreetInsider.