New york: Intel increased the size of its common stock offering from $15 billion to $20 billion as the US chipmaker seeks additional capital amid accelerating investment in artificial intelligence infrastructure. The company announced on Tuesday that it priced approximately 210.53 million shares at $95 each, with the offering expected to generate net proceeds of about $19.7 billion after underwriting discounts and estimated expenses.

According to Anadolu Agency, Intel also granted underwriters a 30-day option to purchase up to an additional 31.58 million shares at the offering price. If this option is exercised in full, the transaction's gross value could rise to approximately $23 billion. The offering is anticipated to close on Wednesday, subject to customary closing conditions.

Intel's strategic move to raise additional funds comes as the company plans to use the proceeds for general corporate purposes, potentially including capital expenditures and working capital. The chipmaker has identified AI computing, purpose-built chips, advanced packaging, and semiconductor manufacturing capacity as key investment areas. This comes amid rising demand for data centers and computing infrastructure driven by advancements in artificial intelligence.

The upsized stock offering underscores the substantial financing requirements facing semiconductor manufacturers. As technology companies expand their spending on chips, power capacity, and data centers to support AI development, Intel's financial strategy reflects the growing need for investment to stay competitive in the rapidly evolving tech landscape.