TradingKey – Intel (NASDAQ: INTC) rose by 4.41% on August 13 after a 3.3% increase on Wednesday, settling at $100.95. The move came as investors continued to digest the chipmaker’s newly completed $20 billion stock offering.
The move marks a significant reversal from a stock that’s up more than 150% this year. Intel, though, is far from its June levels and still has a big issue to address: is AI-based demand strong enough to warrant the massive capital investment that the company is throwing at its turnaround?
The $20 Billion Offering Is Now Complete
The company had originally planned to sell $15 billion in shares, but the institutional demand amounted to $100 billion, so it expanded the offering to 210.5 million shares valued at $95…
