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Intel gains $11bn injection from Apollo to fund chip facility in Ireland

Chipmaker Intel has secured an $11bn investment from private equity firm Apollo Global Management for its chip fabrication plant in Ireland. 

In exchange, Apollo will gain a 49% equity stake in the joint venture related to Fab 34, located in Leixlip. 

Fab 34 is Intel’s manufacturing facility for wafers using Intel 4 and Intel 3 process technologies. 

Intel has invested $18.4bn into the plant, and the new deal will allow it to redirect some of that investment to other areas while continuing to expand Fab 34. 

Intel CFO David Zinsner said: “The deal gives us additional flexibility to execute our strategy as we invest to create the world's most resilient and sustainable semiconductor supply chain.”

Construction of Fab 34 is nearly complete, and the plant began producing processors on Intel 4 technology in September 2023.