Intel to buy back Apollo stake in Ireland for $14.2 billion

INTEL CORP has announced a $14.2 billion agreement to buy back the 49% stake in its Ireland manufacturing facility from APOLLO GLOBAL MANAGEMENT INC. This move returns full ownership of the Leixlip plant to the chipmaker as its financial position strengthens and artificial intelligence drives increased demand for its processors. Apollo had originally acquired the stake in 2024 for $11.2 billion, providing a vital cash infusion that supported Intel's manufacturing expansion in Europe and the United States. Since that time, Intel has undergone a significant restructuring under CEO Lip-Bu Tan, including job cuts and asset sales designed to stabilize its finances. The company has also secured billions in investments from NVIDIA CORP and the American government, which is now its largest shareholder. After trailing the artificial intelligence boom for several years, the company is seeing renewed demand for its data center processors due to the rise of AI inference. > Today, we have a stronger balance sheet, improved financial discipline and an evolved business strategy. Intel Chief Financial Officer David Zinsner noted that the buyback would be funded by cash on hand and approximately $6.5 billion in new debt. The company expects the transaction to boost profits and improve its credit profile by 2027. The Ireland facility, known as Fab 34, produces advanced chips using Intel 4 and Intel 3 technologies, including the Core Ultra and Xeon 6 processor lines.