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Intel Buys Back Apollo's Stake in Ireland Chip Plant for $14.2B
The semiconductor giant is regaining full control of its Fab 34 manufacturing facility.
Apr. 2, 2026 at 12:04pm
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Intel has agreed to repurchase Apollo Global Management's 49% stake in Intel's Fab 34 chip manufacturing plant in Ireland for $14.2 billion. The move comes after Apollo led an $11.2 billion investment to acquire the equity in the facility back in 2023.
Why it matters
This transaction allows Intel to regain full control over its strategic chip production facility in Ireland as the company looks to expand its global manufacturing footprint to meet rising semiconductor demand. It also signals Intel's confidence in the long-term prospects of its Irish operations.
The details
Under the terms of the deal, Intel will pay $14.2 billion to buy back the 49% stake in Fab 34 that Apollo Global Management acquired in 2023 through an $11.2 billion investment. The facility, which began production in 2022, is a key part of Intel's global chip manufacturing network.
- Intel and Apollo first struck the Fab 34 investment deal in 2023.
- Fab 34 began chip production in 2022.
- Intel has now agreed to repurchase Apollo's stake on April 2, 2026.
The players
Intel
A multinational semiconductor chip manufacturer headquartered in Santa Clara, California.
Apollo Global Management
A global investment management firm that led a $11.2 billion investment to acquire a 49% stake in Intel's Fab 34 facility in 2023.
What’s next
The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.
The takeaway
Intel's decision to buy back Apollo's stake in Fab 34 demonstrates the company's long-term commitment to its Irish manufacturing operations and its strategy of maintaining direct control over key production facilities to meet global chip demand.
