Intel CEO Lip-Bu Tan buys $12 mln in stock offering

Published Aug 12, 06:38 PM UTC

Intel revealed that CEO Lip-Bu Tan and a family member agreed to purchase $12 million worth of shares in the company's $20 billion equity sale, which was raised from $15 billion to offset AI spending. The news drove Intel shares up 4.5% to $102. CNBC's Jim Cramer, who calls Intel his favorite stock, supports the fundraising strategy and has been buying shares. Analysts at UBS view the raise as a strong endorsement of Intel's foundry roadmap but cut their price target to $112 due to product roadmap concerns. Since taking over in March 2025, Tan has overseen a roughly 300% stock rally. Intel's foundry business, which recently won a contract from Fortinet, is seen as key to its turnaround as chip designers seek alternatives to Taiwan Semiconductor.