Intel, Apollo agree on $11 billion joint venture for chip factory in Ireland

ISTANBUL

US chipmaker Intel and Apollo Global Management agreed on an $11 billion joint venture deal for a 49% equity interest in Intel’s Fab 34 chip factory in Leixlip, Ireland.

“Under the agreement, the joint venture will have rights to manufacture wafers at Fab 34 to support long-term demand for Intel’s products and provide capacity for Intel Foundry customers,” Intel said Tuesday.

The transaction for the venture is expected to be finalized in the second quarter of the year.

​​​​​​​The construction of the Fab 34 chip factory in Ireland is mostly completed, according to Intel, and the company has already begun manufacturing chips at the facility last September.