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Intel Sells 49% Stake in Ireland Fab to Apollo for $11 Billion Investment

Jun 4, 2024, 08:30 PM

Intel has agreed to sell a 49% equity interest in its Fab 34 facility in Leixlip, Ireland, to Apollo Global Management for $11 billion. The joint venture is aimed at expanding Intel's manufacturing capabilities and bringing in external funding for the company's factory network. Apollo is set to invest $11 billion in the venture. The Fab 34 facility is designed for Intel 4 and Intel 3 process technologies. Intel's credit rating has been affirmed at A+ following the announcement.