INTEL WILL BUY BACK APOLLO STAKE IN IRELAND FACTORY FOR $14.2 BILLION
- NEWS Desk Global
- 17 hours ago
- 1 min read
Intel said it would spend $14.2 billion to buy back the 49% stake it had sold to Apollo Global Management in its Ireland manufacturing facility, taking full ownership of the plant as its finances improve and AI drives demand for its processors. Shares of the chipmaker rose more than 10% on Wednesday.
Apollo had paid $11.2 billion in 2024 to buy the stake in a joint venture for the plant in the town of Leixlip outside Dublin, giving the then-struggling Intel a cash infusion to fund its manufacturing expansion in Europe and the U.S.
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