Intel Repurchases Fab 34 Stake for $14.2B

Intel shares rose 2.5% on Wednesday as the company announced a $14.2 billion buyback of Apollo’s 49% stake in Fab 34.
The repurchase, funded by cash and about $6.5 billion new debt, is expected to be EPS‑accretive and improve Intel’s credit profile by 2027.
Fab 34, central to Intel’s manufacturing, produces Intel 4/3 chips such as Core Ultra and Xeon 6 for AI‑enabled systems.
CFO David Zinsner highlighted a stronger balance sheet and financial discipline, while Apollo partner Jamshid Ehsani praised the strategic capital support.