TECH - Why Is Intel Stock Moving Higher Wednesday? | Benzinga
Intel Corp (NASDAQ:INTC) stock is trading higher amid reports of its plans to secure a minimum of $2 billion in equity to finance the construction of a semiconductor fabrication plant in Ireland.
The leading chipmaker, collaborating with a financial adviser, has initiated the process of engaging with prospective investors, Bloomberg cites familiar sources.
This effort to raise funds comes on the heels of Intel’s 2022 agreement with Brookfield Infrastructure Partners, which saw Brookfield commit up to $15 billion for a 49% share in Intel’s manufacturing expansion at its Ocotillo campus in Chandler, Arizona.