AI Boom Fuels Intel Comeback as Chipmaker Raises $20 Billion

Intel spent years losing ground as manufacturing delays, server-market share erosion and heavy foundry losses undermined its former dominance. The boom in agentic AI has changed the picture: data centers need more CPUs to coordinate autonomous workloads, tightening supply and strengthening pricing for Intel’s core products. Investors are betting CEO Lip-Bu Tan can turn that demand into durable growth while advancing the 18A and 14A processes and building a credible foundry rival to Taiwan Semiconductor Manufacturing Co.

On July 23, Intel reported second-quarter revenue of $16.13 billion for the period ended June 27, up 25.4%, while adjusted earnings of 42 cents a share beat LSEG’s 21-cent estimate. Data Center and AI revenue reached $6.26 billion, versus $5.37 billion expected. Intel on Aug. 11 upsized a common-stock offering to $20 billion from $15 billion, pricing 210.5 million shares at $95 each; it expects the deal to close Aug. 12 and generate about $19.7 billion in net proceeds.