Shares fell 4% to close at $97.52, shedding roughly $20 billion in market value on a stock that had already run up 175% in 2026. Investor orders reportedly topped $100 billion, an oversubscription ratio north of 2,700 times the shares on offer. Retail investors fled over a 3% dilution while the 'smart money' stampeded with $100 billion in orders. Key TakeawayIntel’s stock offering produced two verdicts in 48 hours, and they told opposite stories. Wall Street’s decision to expand the deal by a third — backed by $100 billion in demand — reflected conviction that Intel’s AI-driven turnaround has real legs.