Intel regains ownership of Irish factory in multi-billion-dollar deal

Intel is fully repurchasing the remaining 49% of Irish Fab 34 from Apollo Global Management for $14.2 billion.

The transaction ends the joint-venture structure that was established in 2024.

The 2024 arrangement had previously yielded $11.2 billion for Intel.

The buyback will be funded with available cash and roughly $6.5 billion of new debt.

Fab 34 makes chips on Intel 4 and Intel 3 processes, including Core Ultra and Xeon 6 (the latter used in AI infrastructure); Intel expects the deal to boost EPS over time and to strengthen its credit profile starting in 2027.