APO - Intel and Apollo join forces with $11-billion investment in Ireland's Fab 34
2024-06-04 19:37:03 ET
In a significant move to bolster semiconductor production, Intel Corporation (NASDAQ:INTC) and Apollo Global Management (NYSE: APO) have announced a major investment in Intel’s Fab 34 manufacturing network in Ireland.
Apollo-managed funds and affiliates will invest $11 billion to acquire a 49% stake in a joint venture with Intel, aiming to enhance production capabilities at the facility.
Intel, Apollo JV to push innovation
The $11 billion investment is set to provide crucial capital, enhancing Fab 34’s production capacity and technological capabilities.
This partnership allows Intel to retain operational control of the facility while leveraging Apollo’s financial resources to drive growth and innovation.
The deal is expected to boost the semiconductor facility’s output, ensuring it meets the increasing demand for advanced semiconductor products.
Bid to meet rising semiconductor demand
Intel’s Fab 34 in Ireland is poised to become a pivotal player in the global semiconductor market.
The substantial investment from Apollo not only provides the financial backing needed for expansion but also supports Intel’s strategic goal of scaling its manufacturing capabilities.
This move is particularly timely, given the soaring demand for semiconductors across various industries, including automotive, consumer electronics, and data centers.
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