Intel increased its stock sale to $20 billion from an originally planned $15 billion, pricing about 210.5 million new shares at $95 each and expecting roughly $19.7 billion in net proceeds for general corporate purposes including capital expenditures and working capital. The U.S. government will not buy new shares, leaving its 9.9% stake to be diluted, while underwriters have a 30-day option to purchase another 31.58 million shares. Bank of America said in an Aug. 12 report that the issuance would dilute earnings per share by about 4%-5%, but described the fundraising as a net positive and a favorable signal for Intel's foundry business, while cutting its price target to $145 from $160 and maintaining a buy rating.