U.S. semiconductor company Intel is set to raise $15 billion (approximately 21.3 trillion won) through a stock offering to fund investments in artificial intelligence (AI) and expand its foundry services.
On August 10, Intel announced its plans to issue new shares to raise the funds, according to a filing with the U.S. Securities and Exchange Commission (SEC).
The funds will be used for investments in semiconductor production facilities and equipment, as well as for general corporate purposes. Intel stated, "As investments in AI rapidly increase, the demand for semiconductors remains strong," highlighting new growth opportunities in AI applications for robotics and autonomous driving, custom semiconductors, advanced packaging, and semiconductor production for external customers.
Intel is also increasing its investment scale. Last month, it raised its capital expenditure forecast for the year from $18 billion (approximately 25.5 trillion won) to $20 billion (approximately 28.4 trillion won). The company plans to expand its production facilities and equipment to meet the demand for AI server semiconductors while growing its foundry business.
The total amount raised could increase to $17.25 billion (approximately 24.5 trillion won), as Intel has allowed underwriters to purchase an additional $2.25 billion (approximately 3.2 trillion won) worth of shares.
Through this stock offering, Intel aims to secure the necessary funds for growth investments while maintaining its financial stability and investment-grade credit rating.
However, concerns over the potential dilution of existing shareholders' equity due to the large issuance of new shares led to a 4.06% drop in Intel's stock price, which closed at $97.52.
* This article has been translated by AI.
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