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Intel Nears $11B Deal with Apollo for Ireland Plant, Stock Up 1.1%

May 13, 2024, 12:06 PM

Intel is nearing a significant deal with Apollo Global Management involving an investment of over $11 billion to support the construction of a new chip manufacturing plant in Ireland. This partnership, as reported by the Wall Street Journal, is in advanced stages with Apollo in exclusive talks to fund the project. The investment is aimed at enhancing Intel's chip production capabilities in Europe. Intel's stock rose 1.1% in premarket trading following the news.