Based on Intel's reported 5.044 billion shares outstanding as of July 17, 2026, the base offering represents roughly 3% dilution, with the full greenshoe pushing that figure to approximately 3.4%. Intel shares touched an intraday low near $96.31 on Monday, before rebounding, as investors weighed the dilution against the strategic rationale. Intel reported Q2 2026 revenue of $16.1 billion, up 25% year over year, with non-GAAP EPS of $0.42. The company guided Q3 2026 revenue in a $15.8 billion to $16.8 billion range. Despite the strong print, the lingering question heading into Monday was which foundry customers would justify a meaningful acceleration in capital spending.