Intel upsizes stock sale to $20B with spending plans still fuzzy

Semiconductor giant says opaquely it will use the proceeds for 'general corporate purposes'

Intel stands to raise $20 billion from a public offering of common stock after increasing the deal from the $15 billion announced on Monday, although analysts disagree over what the chip giant wants the cash for.

The Santa Clara biz initially announced a $15 billion offering before pricing the shares at $95 apiece and increasing the deal to $20 billion.

Intel is offering 210,526,315 shares at a price understood to represent a 6.5 percent discount to Friday's closing level. It has also granted underwriters a 30-day option to purchase up to 31,578,947 additional shares at the same price.

The CPU maestro said the net proceeds from the offering would go toward "general corporate purposes," which may include, but are not limited to, capital expenditures and working capital.

It also mentioned emerging areas including physical AI, purpose-built silicon,...

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