Intel Corporation (NASDAQ:INTC) and Apollo (NYSE:APO) today announced a definitive agreement for Intel to repurchase the 49% equity interest in the joint venture related to Intel's Fab 34 in Ireland not held by Intel for $14.2 billion. The agreement reflects Intel's continued business momentum underpinned by the growing and essential role CPUs play in the era of AI, a significantly strengthened balance sheet and the strong partnership between Intel and Apollo.

In 2024, Apollo-managed funds and affiliates led an $11.2 billion investment to acquire a 49% equity interest in a joint venture entity related to Fab 34, providing Intel with equity-like capital while preserving balance sheet strength. This transaction provided Intel with significant financial flexibility and enabled the company to unlock and redeploy capital to advance its strategic priorities including accelerating the buildout of Intel 4 and Intel 3, the most advanced processes manufactured in Europe, and of Intel 18A, the most advanced process developed and manufactured in the U.S. today.