Intel Shares Drop 2.8% Below $95 Offer as $20B Foundry Plan Tests
Intel shares fell 2.8%, trading below its $95 offering level, closing at $89.47 after dropping 2.83% on the day. The move reflects an early market test for Intel’s roughly $20 billion annual foundry investment and capex push, aimed at high-volume manufacturing using the 14A process in 2028. CEO Lip-Bu Tan also bought shares at $95.