Intel (INTC) Stock Surges 8.3% After $14.2 Billion Apollo Stake Buyback in Ireland

Intel shares surged as much as 8.3% in early trading Wednesday after the semiconductor giant announced it will spend $14.2 billion to buy back Apollo Global Management's 49% stake in its Ireland manufacturing facility, regaining full control as AI-driven demand fuels its financial recovery.

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.”

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.