Intel buys back 49% stake in Ireland Fab Joint Venture — takes full control over Fab 34

Intel repurchased the 49% stake in the Ireland Fab 34 joint venture for $14.2 billion; that amount is $3 billion above the original $11.2 billion June 4, 2024 deal with Apollo.

The buyback returns full control of Fab 34 to Intel.

Intel plans to finance the transaction from existing cash reserves combined with roughly $6.5 billion of new debt.

Intel expects the deal to boost Intel Foundry EPS due to margin waivers tied to wafer purchases from Fab 32, and to improve its credit ratings beginning in 2027.

Fab 34 was intended to manufacture wafers using Intel 4 and Intel 3 process technologies, with output sold to Intel under a cost‑plus‑margin model.