((Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto)) (Updates)
April 1 – ** Shares of Intel INTC.O rose 6.3% to $46.90 after the chipmaker said it would spend $14.2 billion to buy out Apollo’s stake in its Irish factory
** INTC says it will buy back the 49% stake it sold to Apollo Global Management in 2024, becoming full owner of its Fab 34 factory in Leixlip, Ireland
** Apollo paid $11.2 billion for the stake, providing Intel with cash to fund manufacturing expansion in Europe and the United States.
**Intel says the buyout will be financed with cash on hand and about $6.5 billion in new debt, which is expected to boost earnings and strengthen Intel’s credit profile starting in 2027
** The buyout reflects improving finances under CEO Lip-Bu Tan and growing demand for Intel’s processors as adoption of AI inference increases
** At the last close, INTC shares rose 19.59% since the start of the year
