The semiconductor company will now wholly own Fab 34 after spending $14.2 billion to repurchase the 49% stake it sold to Apollo Global Management two years ago.
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Intel
shares jumped 9% Wednesday after the U.S chipmaker announced it would repurchase the 49% equity interest it did not own in its Fab 34 chip facility in Ireland for $14.2 billion.
The semiconductor company sold the 49% stake in its Ireland manufacturing facility to buyout firm Apollo Global Management
in 2024 for $11.2 billion.
Latest move marks a shift for chip maker, which spent much of 2025 in cost-cutting mode
Shares of Intel have more than doubled this year on optimism that backing from the government will help the company's position in…
Intel has been a Wall Street darling of late even as the business has yet to find much momentum.
Intel's share price was down slightly premarket after a 10% spike on Friday after analyst Ming-Chi Kuo said the chip giant was…
Experts suggest the reported deal could give the US an edge in the chipmaking sector.
It comes after SoftBank announced it would invest $2 billion in the struggling chipmaker.
