US chipmaker Intel has agreed to pay $14.2 billion (€13.1bn) to buy back the 49% stake it sold to Apollo Global Management in its Fab 34 chip manufacturing facility in Leixlip, Co. Kildare, restoring full ownership of the plant. Bloomberg reported on the announcement, confirmed on 1 April 2026.

The transaction will be financed with cash on hand and the issuance of approximately $6.5 billion (€6bn) in new debt. The deal is expected to be accretive to Intel's earnings per share and to strengthen its credit profile from 2027.

Apollo originally acquired the 49% stake for $11.2 billion (€10.3bn) in 2024 as part of a joint venture tied to the Leixlip facility, providing Intel with a cash infusion to fund its manufacturing expansion in Europe and the United States.

Fab 34 produces chips based on Intel 4 and Intel 3 technologies, including Core Ultra and Xeon 6 processors. The facility is a key part of Intel's global manufacturing footprint and current and future product roadmap.

David Zinsner, chief financial officer at Intel, said: "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."

Intel has since changed chief executives, with current chief executive Lip-Bu Tan pursuing an aggressive restructuring of the company's finances since taking the helm in March 2025. The company ended 2025 with $37.4 billion (€34.5bn) in cash and short-term investments.

The buyback supports Intel's foundry competitiveness as its more advanced 18A manufacturing technology continues to ramp up across its US facilities.

Access the full report on Intel's Fab 34 buyback here.