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Reuters
Wed, April 1, 2026 astatine 8:03 AM CDT 1 min read
April 1 (Reuters) - Intel said it would walk $14.2 cardinal to bargain backmost the 49% involvement it sold to Apollo Global Management successful its Ireland manufacturing facility, taking afloat ownership of the works arsenic its finances amended and AI drives request for its processors.
Apollo had successful 2024 spent $11.2 cardinal to get the involvement successful a associated task related to the works successful Leixlip, Ireland, giving the then-struggling chipmaker a currency infusion to money its manufacturing expansion successful Europe and the United States.
Intel has since changed CEOs, with existent apical brag Lip-Bu Tan pursuing an assertive restructuring to repair the company's finances, including occupation cuts and plus sales. The institution has besides received billions of dollars successful investments from Nvidia and the U.S. government, which is now its biggest shareholder.
After sitting out the artificial quality roar for astir 3 years, request is besides rising for its cardinal processors utilized successful information centers owed to the emergence inference, the process by which AI tools respond to idiosyncratic queries.
"Today, we person a stronger equilibrium sheet, improved financial subject and an evolved concern strategy," Intel Chief Financial Officer David Zinsner said connected Wednesday.
Intel said the involvement buyback would beryllium funded with currency on manus and astir $6.5 cardinal of caller debt. It expects the woody to boost nett and fortify its recognition illustration from 2027.
The Ireland plant, known arsenic Fab 34, produces chips based on its Intel 4 and Intel 3 technologies, including Core Ultra and Xeon 6 processors.
(Reporting by Aditya Soni successful Bengaluru; Editing by Maju Samuel)
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