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Intel is raising $15 billion in new stock to fund its AI chip ambitions

Intel stock has nearly tripled this year as AI data center demand drives record orders for its central processing units

David Paul Morris/Bloomberg via Getty Images

Intel $INTC announced a $15 billion underwritten public offering of common stock on Monday, seeking to capitalize on a surge in its share price driven by demand for AI computing hardware.

The company said proceeds will be used for general corporate purposes, which may include capital expenditures and working capital. "Progress in emerging areas including physical AI, purpose-built silicon, advanced packaging and external wafers........

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