Intel has reached a deal to repurchase the 49% stake in its Ireland Fab 34 joint venture from Apollo Global Management for $14.2 billion, regaining full control of the key wafer fab.

In 2024, Apollo invested $11.2 billion for that stake, providing Intel with critical capital. The buyback now gives Intel greater financial flexibility to focus on core strategies, including ramping up Intel 4, Intel 3, and Intel 18A process technologies. Intel 3 is already in high-volume production with a 17% power efficiency gain, while Intel 18A features RibbonFET GAA transistors and a 15% performance-per-watt lift over Intel 3.

Intel CFO David Zinsner noted the company now has a stronger balance sheet and clearer business strategy. Apollo’s Jamshid Ehsani called the transaction a reflection of long-term partnership and alignment.

The repurchase will be funded by existing cash and roughly $6.5 billion in new debt. Fab 34 remains central to Intel’s global manufacturing, producing Intel Core Ultra and Xeon 6 processors.

ICgoodFind:Intel’s $14.2B Fab 34 buyback strengthens its process tech roadmap and manufacturing control, reshaping its competitive position in semiconductors.