Intel has announced plans to spend $14.2 billion to repurchase the 49% stake in its Ireland semiconductor manufacturing facility that it previously sold to Apollo Global Management. The move will restore full ownership of the Leixlip-based plant as the company strengthens its financial position and benefits from rising demand for processors driven by artificial intelligence growth. Following the announcement, Intel’s shares surged more than 10%.

Apollo had acquired the stake in 2024 for $11.2 billion, providing Intel with crucial funding during a period of financial pressure as it expanded manufacturing operations in Europe and the United States. Since then, the chipmaker has undergone restructuring under CEO Lip-Bu Tan, including cost cuts and asset sales, alongside major investments from partners and government support aimed at reviving its competitiveness in the semiconductor market.

Intel said the buyback will be financed through existing cash reserves and about $6.5 billion in new debt, with expectations that the deal will improve profitability and credit strength from 2027 onward. The Ireland facility, known as Fab 34, produces advanced chips using Intel 4 and Intel 3 technologies, and the company is now focusing on developing its next-generation 18A manufacturing process to expand future production and potential external partnerships.

Pic courtesy: google/ images are subject to copyright