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Intel shares jump after raising US$23bn for US foundry push

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Intel shares rose nearly 8% to close Friday at US$102.50 after a new US$95 stock price. The US$23bn raised is funding Intel’s bid to act as a foundry, making chips for other companies like TSMC. CEO Lip-Bu Tan cited growing confidence in the foundry roadmap, the strongest revenue growth in 15+ years, and higher 2026 capital spending backed by US$10m of his own share buys.

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