Intel will spend $14 billion to buy back the shares of a factory it previously sold.

Chip maker Intel, who is actively working to restore its manufacturing strength, has agreed to pay $14.2 billion to buy back half of the shares of a factory in Ireland that it previously sold to Apollo Global Management. Intel announced on Wednesday that the deal will be financed through existing cash and issuing around $6.5 billion in new debt. Apollo had previously invested $11.2 billion to purchase 49% of the shares of the company that later became a joint venture, which acquired ownership of the Fab 34 factory in 2024. Intel had stated at the time that the deal raised the necessary funds for bringing in new production technology to this factory and other factories in the United States.