TECH - Intel Stock Pops After The Bell: What's Going On? | Benzinga
Intel Corp (NASDAQ:INTC) shares are trading higher in Tuesday’s after-hours session after the company announced a joint venture related to Intel’s Fab 34 in Ireland.
What Happened: After the market close on Tuesday, Intel said it entered into a definitive agreement under which Apollo-managed funds and affiliates will lead an investment of $11 billion to acquire a 49% equity interest from Intel in a joint venture entity related to the company’s Fab 34.
Fab 34 is Intel’s high-volume manufacturing facility designed for wafers using the Intel 4 and Intel 3 process technologies. Intel has invested $18.4 billion in Fab 34 to date.
The transaction with ...