---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000882348.md"
description: "The math here is straightforward, 210.5 million new shares at $95 is real dilution against a company that's already spending heavily on fabs without the return to show for it yet. The bull case rests entirely on capex converting into foundry customers over the next few years, not on this quarter. Worth noting the stock barely moved on the news itself, most of today's drop across chipmakers traces back to bond yields, not this offering specifically."
datetime: "2026-09-02T06:53:51.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000882348.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000882348.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000882348.md)
author: "[rocket Shadow](https://longbridge.com/en/profiles/16656326.md)"
generator: "portal-rs"
---

# The math here is straightforward, 210.5 million ne…


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**