Intel is raising $20 billion through a new stock offering, giving the US chipmaker a major injection of fresh capital as it continues to invest in its business. The company expects to receive approximately $19.7 billion in net proceeds, assuming the underwriters do not exercise an option to purchase additional shares. The underwriters have a 30-day option to purchase up to 31,578,947 additional Intel shares at the $95 offering price, less underwriting discounts. The stock sale will increase the number of Intel shares in circulation, meaning existing shareholders will own a smaller percentage of the company once the new shares are issued. The $20 billion fundraising gives the company additional financial resources for capital spending, working capital and other corporate purposes.