Intel Corporation announced it will acquire Apollo Global Management's 49% ownership stake in their joint venture chip manufacturing facility in Ireland for $14.2 billion, giving Intel full control of the Fab 34 plant.

The transaction involves the companies' joint venture semiconductor manufacturing facility, known as Fab 34, located in Ireland. Apollo Global Management had held a minority stake in the operation, which Intel will now fully own following the completion of the deal.

The acquisition represents a significant financial commitment by Intel as the company seeks to expand its manufacturing capabilities amid growing global demand for semiconductors. The $14.2 billion price tag reflects the strategic value of advanced chip manufacturing facilities in the current market environment.

The deal comes as the semiconductor industry continues to experience strong demand across multiple sectors, from artificial intelligence applications to consumer electronics. Manufacturing capacity has become increasingly valuable as companies seek to secure reliable chip supply chains.

Intel has not disclosed the expected timeline for completing the transaction, which would be subject to standard regulatory approvals and closing conditions typical for deals of this magnitude.