Intel, the chip maker aiming to restore its manufacturing prowess, agreed to pay $14.2 billion (€12 billion) to buy back half of its plant in Leixlip that it had previously sold to Apollo Global Management. Intel employs almost 5,000 people in the Republic.
The transaction will be financed with cash on hand and the issuance of about $6.5 billion in new debt, Intel said in a statement on Wednesday.
Apollo had paid $11.2 billion for 49 per cent of what became a joint venture – a business that took ownership of Intel’s Fab 34 facility in 2024. The deal raised cash that Intel said it needed for new production technology at the facility and others in the US.
Shares of Intel jumped as much as 6.3 per cent after markets opened in New York.
The latest move marks a shift for Intel, which spent much of 2025 in cost-cutting mode. Chief executive Lip-Bu Tan, who took the helm in March of that year, slashed jobs, slowed expansion projects and sought to offload businesses.
