00:00It's Benzinga bringing Wall Street to Main Street
00:02Intel raised $20 billion in an upsized share sale Monday, about a third more than initially
00:07targeted, as investor demand for AI-related stocks remained strong, according to Bloomberg.
00:12The chipmaker priced the offering at $95 per share, a 6.5% discount to Friday's close,
00:17while the deal drew more than $100 billion in demand. Intel shares fell 1% in pre-market
00:22trading Tuesday after closing Monday at $97.52. The stock remains up roughly 164% this year.
00:29Intel is building cash reserves as CEO Lip Bhutan focuses on strengthening the company's
00:34finances and expanding its role in the AI boom. The company also needs funding to expand its
00:39factory network and outsource chip manufacturing business. For all things money, visit Benzinga.com.
Comments