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

Intel will spend $14.2 billion to buy back the 49% stake in its Ireland manufacturing facility from Apollo Global Management, gaining full ownership. Apollo had acquired the stake for $11.2 billion in 2024 during Intel’s struggles.

Since then, Intel has undergone significant changes under CEO Lip-Bu Tan, focusing on restructuring to improve finances. The company has attracted investments from Nvidia and the U.S. government. A rise in demand for its processors, especially for AI applications, has contributed to its financial recovery.

Intel plans to fund the buyback with cash and $6.5 billion in new debt, expecting it to enhance profits and credit profile by 2027. The plant, known as Fab 34, produces several of its advanced chip technologies.