Intel Reacquires Ireland Plant Stake from Apollo for $14.2 Billion
Intel Corporation announced on April 1, 2026, that it will spend $14.2 billion to repurchase the 49% stake in its Ireland manufacturing facility that it had previously sold to Apollo Global Management. This deal signifies a crucial milestone in Intel’s turnaround strategy, showcasing the chipmaker’s enhanced financial position.
Apollo initially paid $11.2 billion in 2024 to acquire the stake in the joint venture for the Fab 34 plant in Leixlip, Ireland. At that time, Intel, grappling with financial difficulties, required the cash infusion to fund its manufacturing expansion in Europe and the United States. Since then, Intel has undergone significant restructuring under CEO Lip-Bu Tan, which included:
- Job cuts
- Asset sales
- Securing billions in investments from Nvidia and the U.S. government
The Ireland facility, known as Fab 34, manufactures chips using Intel’s Intel 4 and Intel 3 process technologies. These include Core Ultra processors for PCs and Xeon processors for servers. Intel plans to fund the buyback through cash on hand and approximately $6.5 billion in new debt. The company anticipates that the transaction will boost profit and enhance its credit profile starting in 2027.
Following the announcement, Intel shares surged by more than 8%, reflecting investor confidence in the company’s recovery and its positioning to capitalize on the growing AI-driven demand for processors. This move reinstates Intel as the full owner of one of its most advanced manufacturing facilities.
Source: Bloomberg