Intel plans $15 billion share sale as turnaround rally lifts stock

Intel said on Monday it was planning to raise $15 billion through a share sale, as it looks to fund the costly build-out of its chip contract manufacturing business by cashing in on a stock surge fueled by its turnaround efforts.

Once a dominant force in the global chip industry, Intel is investing heavily in new facilities and advanced packaging capabilities as it seeks ‌to challenge ⁠industry leaders ⁠such as TSMC in contract chip manufacturing.