Intel (NASDAQ: ) is nearing a major deal with Apollo Global Management, which is set to invest over $11 billion to support the construction of a new chip plant in Ireland, the Wall Street Journal reported Monday. The two parties are currently engaged in exclusive negotiations, with a potential agreement expected in the coming weeks, provided there are no unforeseen obstacles. Previously, other investment firms such as KKR and Stonepeak were considered for the partnership, but Apollo has recently taken the lead. Apollo is handling this investment through its High Grade Capital Solution division, which typically funds large, investment-grade corporations. Under the leadership of CEO Pat Gelsinger, Intel is actively expanding its manufacturing capabilities, not just in Ireland but also in Arizona and Ohio, among other places.

Source: Wall Street Journal May 13, 2024 12:04 UTC