SANTA CLARA (dpa-AFX) - Intel Corp. (INTC), a semiconductor company, on Monday announced a $15 billion underwritten public offering of common stock.
The company intends to use the net proceeds for general corporate purposes, including capital expenditures and working capital.
The offering is intended to support its growth opportunities while maintaining a strong balance sheet and its commitment to an investment-grade credit rating.
The company also expects to grant the underwriters a 30-day option to purchase up to an additional $2.25 billion of common stock at the public offering price.
The company said customers continue to signal strong and sustainable demand, driven by increased investment in AI computing, while emerging areas such as physical AI, purpose-built silicon, advanced packaging and external wafers present growth opportunities.
In the pre-market trading, Intel is 3.74% lesser at $97.88 on the Nasdaq.
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