Intel Corporation
Intel Announces $11 Billion Joint Venture Agreement with Apollo for Fab 34 in Ireland
Summary
On June 4, 2024, Intel Corporation, through its subsidiary Intel Ireland Limited, entered into a purchase and sale agreement with AP Grange Holdings, LLC, managed by affiliates of Apollo Global Management, Inc. The agreement involves Intel selling a 49% equity interest in a joint venture entity related to Fab 34 in Ireland for approximately $11 billion. Intel will retain a 51% controlling interest and operational control of Fab 34. The joint venture aims to manufacture wafers to support long-term demand for Intel's products and provide capacity for Intel Foundry customers. The transaction is expected to close in the second quarter of 2024.
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About Intel Corporation
Intel Corporation is a multinational corporation and technology company known for its semiconductor products. As a leader in the global semiconductor industry, Intel primarily focuses on designing and manufacturing products like microprocessors, integrated graphics, and other computing components. These semiconductors are vital for the functioning of computers, laptops, and various consumer electronic devices. Intel's products play a crucial role in fields such as data centers, computing solutions, Internet of Things (IoT), and more. The company’s innovations in semiconductor design have significant implications for technology advancement, impacting industries ranging from personal computing to automotive technology. Founded in 1968 and headquartered in Santa Clara, California, Intel Corporation has been a pivotal player in pioneering advances in technology infrastructure worldwide, continuously pushing the boundaries of processing power and efficiency to support consumer electronics and enterprise technology needs.
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