Intel (INTC) shares climbed on Wednesday morning after the semiconductor announced a $14 billion stake buyback of its Ireland facility. Intel will spend $14.2 billion to buy back the 49% stake it had sold to Apollo Global Management in ‌its Ireland manufacturing facility, taking full ownership of the plant as its ‌finances improve and AI drives demand for its processors. The stock climbed as much as 8.3% in early trading hours as of 11 am in New York.

Apollo had paid $11.2 billion in 2024 to acquire the stake in a joint venture related to the plant in the town of Leixlip outside Dublin, giving the then-struggling Intel a cash infusion to fund its manufacturing expansion in Europe and the ‌United States. Now that Intel (INTC) has begun to roar back in the industry, it plans on buying that stake back. Per a press release, the repurchase of the 49% JV stake is expected to be funded through cash on hand and proceeds from the issuance of new debt of approximately $6.5 billion.

The Ireland plant, known ​as Fab 34, makes chips using Intel 4 and Intel 3 ‌process technologies, including Core Ultra processors ​for PCs and Xeon ​processors for servers. It was Intel’s first high-volume manufacturing site for the Intel 4 manufacturing process that uses extreme ultraviolet lithography machines.

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Intel, Apollo on Factory Stake Buy Back

“We thank Apollo for their ongoing partnership on our journey to build a world-class wafer fabrication and advanced packaging foundry anchored in trust, consistency, and execution,” said David Zinsner, Intel CFO. “Our 2024 agreement was the right structure at the right time and provided Intel with meaningful flexibility, enabling us to accelerate critical initiatives. Today, we have a stronger balance sheet, improved financial discipline, and an evolved business strategy. We appreciate Apollo’s continued collaboration to reach this outcome as we realign our capital structure with our long-term strategy.”

“Our partnership with Intel began at an important stage in the execution of its advanced manufacturing roadmap, where our long-term strategic capital played a meaningful role in accelerating the production of next-generation chip technology,” said Apollo Partner Jamshid Ehsani. “Flexibility and alignment are core to how we approach relationships as a long-term, solutions-oriented capital partner, and we are pleased to facilitate this transaction in support of Intel’s evolving strategic and operational priorities. This mutually beneficial transaction is a testament to how we operate: client-driven and focused on long-term partnership. We’re proud to support Intel’s evolving strategic and operational priorities and look forward to pursuing additional opportunities to work together over time.”

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Furthermore, Intel (INTC) stock is up just over 1% this week, with the announced stake buyback in the Ireland factory helping shares recover from the chip stock selloff to open the week. YTD, Intel is one of the best performers in tech stocks, up 29% in 2026.