Intel Stock Issuance Scale Surges 33% to $20B Amid $100B Institutional Demand

Intel expanded share offering from $15B to $20B with issue price at $95. GF Securities maintains $136 target, citing foundry break-even in late 2027 and strong EMIB client growth.

Woofun AI reports that Intel increased its stock issuance scale from the initially planned $15 billion to $20 billion, with institutional demand reportedly exceeding $100 billion. The issue price is set at $95, and all over-allotment options have been exercised. CEO Lip-Bu Tan and his family subscribed for approximately $12 million at the issue price.

GF Securities Overseas Electronics Newsletter reiterated its buy rating for Intel with a target price of $136, noting that the stock issuance sends positive signals. The report expects Intel's foundry business to reach break-even in the fourth quarter of 2027, with leverage effects on profit margins becoming fully evident in 2028. Intel raised expected earnings per share for 2026 and 2027 by 3% and 1%, respectively. The report estimates 18A chip yields will reach around 80% in the second quarter of 2026, while CWF enters capacity expansion. Back-end revenue forecasts for fiscal years 2027 and 2028 were raised to $1.1 billion and $7 billion, driven by AWS Trainium3 adopting EMIB-T in 2027 and Google's Humufish and Triggerfish chips expanding production from the second half of 2027 through 2028.