semiconductor / news / / Benzinga
Intel Corporation (NASDAQ:INTC) is up 16% over the past few sessions.
Intel is repurchasing the 49% stake in its Fab 34 facility from Apollo for $14.2 billion.
KEY POINTS
- The original sale to Apollo in 2024 was for $11.2 billion, indicating a $3 billion premium.
- Intel's repurchase is driven by strong demand for server CPUs, especially the Xeon 6 processor.
- Fab 34 will not produce Intel's most advanced 18A chips in the near future.
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