CHICAGO, IL — McDonald's (MCD) is making a long-term bet on artificial intelligence, hand-breaded chicken, and a return of 90s-style restaurants to regain customers who left for other chains, like Burger King.

At its investor day in Chicago, the fast food giant unveiled a new set of ambitious goals and investments as part of its growth plan, following a rocky second quarter that resulted in 0.8% US same-store sales growth versus Burger King's whopping 8.5% growth.

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McDonald's said it plans to invest $8.5 billion through 2036 to support restaurant tech updates with rent relief and capital. It intends to deliver roughly $5 billion of that investment by 2030.

"You start with the opportunity, which we think is really clear and compelling," McDonald's CFO Ian Borden told Yahoo Finance. "We think it's going to provide a really strong return for our operators and for McDonald's."

Franchisees are encouraged to adopt the plan in phases. One franchisee operator told Yahoo Finance they are skating on thin margins with higher ingredient, labor, and rent costs, making another costly redesign difficult, especially in a high-interest-rate environment.

McDonald's new restaurant design (Courtesy: McDonald's)

"Certainly, it's a different interest rate environment with franchisees," McDonald's CEO Chris Kempczinski told Yahoo Finance. "Back 10 years ago, … it was practically like free money."

However, he added, "the benefit is franchisees, even though they're taking on the money, they've got … that sort of halo of McDonald's. … The interest rate that they're getting charged by banks or will get charged by banks is going to be significantly less than if they were Joe's Burger joint."

Operators are expected to update the restaurants' look and feel as part of a remodel cycle every 10 years, per McDonald's, and Kempczinski said those costs typically add up to $400,000 to $450,000 per restaurant.

Deploying the suite of McDonald's productivity improvements will cost franchise operators an additional $800,000 per US restaurant. For international markets, it will run around $650,000 to $750,000.

"It's about just keeping the restaurant looking up to date … paint the walls, fix the roof, make sure the parking lots are in good shape, all of that is part of that investment," Kempczinski said. "The remainder of the investment, the roughly [$800,000] … or so, is all tied to sales driving or productivity driving initiatives."

It remains to be seen whether the strategic growth plan can turn around McDonald's stock. McDonald's shares have struggled to entice investors to take a bite this year, declining 18% year to date, compared to a 4.6% gain for Burger King's parent company stock, Restaurant Brands International (QSR), and 13% gain for the S&P 500 (^GSPC).