Intel announced Monday it plans to raise $15 billion through a public offering of common stock, its first share sale since the company went public in 1971, as it seeks to fund an expansion of its AI chip development and contract manufacturing business amid a stock rally driven by the company's turnaround efforts. Intel reported second-quarter revenue of $16.1 billion, a 25% year-over-year increase marking its fastest growth in more than 15 years, with $7.0 billion in operating cash flow. The company's Data Center and AI Group posted $6.3 billion in revenue for the quarter, up 59% year-over-year, as demand for server CPUs used in AI inference and agentic workloads outpaced Intel's production capacity, according to the company. Intel's foundry business, still a comparatively small contributor to overall revenue with external customer sales of just $293 million for the quarter despite $5.8 billion in total foundry revenue, remains central to CEO Lip-Bu Tan's turnaround strategy. Intel raised its 2026 capital expenditure outlook to $20 billion from $18 billion last month to keep pace with AI-driven semiconductor demand, and separately announced a €5 billion ($5.77 billion) investment to expand chip manufacturing in Ireland, a project representing more than a quarter of its planned capital spending for the year.