New Delhi, Aug. 11 -- Intel announced on Tuesday that it raised $20 billion in an upsized share sale, about one-third more than it initially planned. The chipmaker said on Monday it aimed to raise $15 billion through the share sale.

The chipmaker priced the offering at $95 per share, a 6.5% discount to Friday's closing price, according to Bloomberg calculations. Sources close to the development also told Bloomberg that the share sale drew more than $100 billion in demand.

Once a dominant force in the global chip industry, Intel is investing heavily in new facilities and advanced packaging capabilities as it seeks to challenge industry leaders such as TSMC in contract chip manufacturing.

It is no secret that Intel needs the money becaus...