Intel sells 49% stake in Fab 34 JV to Apollo for $11B, retains control

INTEL CORP

Apollo funds acquire 49% equity in JV entity for $11 billion; Intel holds 51% controlling interest.
Fab 34 in Leixlip, Ireland, uses Intel 4 and Intel 3 process; high-volume manufacturing began Sept 2023.
Intel will consolidate JV results; non-controlling interest income limited in first two years.
Transaction expected to close in Q2 2024; provides financial flexibility at cost below equity.
Intel retains full ownership and operational control of Fab 34 assets; second SCIP arrangement.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.