Intel Is Increasing The Amount Of Money It's Raising As AI Demand Soars. Its Stock Is Flat.

Intel's investments are expected to focus heavily on factory tooling as the company expands manufacturing of its advanced processors and attempts to establish its foundry business as a major alternative to Taiwan Semiconductor Manufacturing Co.

Intel has increased its planned stock offering to $20 billion from $15 billion, seeking additional capital as booming artificial intelligence demand pushes the chipmaker to increase spending on manufacturing capacity.

The company priced the offering at $95 per share and expects the transaction to close on Aug. 12, subject to customary closing conditions.