Deal reverses 2024 sale to Apollo as company doubles down on AI-driven growth
Intel has announced it will repurchase a 49% stake in a joint venture linked to its Fab 34 facility in Leixlip, according to RTÉ.
The stake was originally sold to Apollo Global Management in June 2024 for $11.2 billion.
Intel has now agreed to buy it back for $14.2 billion.
The company said the move reflects strong business momentum, driven by demand for its products in the growing AI sector, along with an improved financial position and continued partnership with Apollo.
Intel described its Ireland operations, including Fab 34, as central to its global manufacturing network and future plans.
It added that it will continue investing in its Leixlip campus to expand capacity and support next-generation AI systems.
The original deal with Apollo provided Intel with financial flexibility, allowing it to redeploy capital.
Chief Financial Officer David Zinsner said the agreement “was the right structure at the right time,” and that Intel now has a stronger balance sheet and more focused strategy.
Kildare North Fine Gael TD Joe Neville welcomed the news saying it "shows the renewed strength of the company" and "their faith in the plant in Leixlip".
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