Intel plans $15 billion share sale as turnaround rally lifts stock

Aug 10 : Intel on Monday said it is planning to raise $15 billion through a share sale, as it looks to fund the costly build-out of its chip contract manufacturing business by cashing in on a stock surge fueled by its turnaround efforts.Once a dominant force in the global chip industry, Intel is investing heavily in new facilities and advanced packaging capabilities as it seeks to challenge industry leaders such as TSMC in contract chip manufacturing.Its shares fell more than 3 per cent in premarket trading, likely on concerns about shareholder dilution from the stock sale. The stock has more than doubled this year, outperforming rivals.The shift toward AI agents has powered demand for central processing units, with Intel executives saying that orders have outstripped the company's manufac