Intel’s stock fell 5.4% to $85.24 in early trading as investors reacted to the company’s expanded $20 billion secondary equity offering, up from an initial $15 billion target. The offering, which includes approximately 210.5 million new shares, pushed the stock below the $95 offer price.
The capital raise underscores Intel’s aggressive spending plans, with more than $20 billion earmarked for foundry business expansion. Analysts at firms such as UBS have trimmed price targets to account for the increased share count and compressed short-term profit multiples.
The broader technology sector showed weakness, with Nvidia down 2.91% and Micron falling 5.83%. The NASDAQ composite declined 0.9%, while the S&P 500 dropped 0.3% during the session.
Investor caution extended ahead of the 2026 Jackson Hole Economic Symposium, where Federal Reserve Chair Kevin Warsh is scheduled to deliver his first keynote address on August 28. Market pricing suggests growing expectations of a potential interest rate hike at the September Federal Reserve meeting, adding to uncertainty around monetary policy direction.
