Intel proposed a $15 billion public offering of its common stock.
The company will use the proceeds for general corporate purposes and capital expenditures for its foundry business. Funds are also earmarked for AI-related investments to compete with industry leaders like TSMC.
Intel aims to capitalize on strong AI computing demand and a significant stock price rally over the past year.
Shares fell over 3% in pre-market trading following the news. Investors cited concerns over the dilution of existing shares as the primary reason for the decline.