On June 4, 2024, Intel Corporation announced a definitive agreement with Apollo Global Management, Inc., where Apollo-managed funds will acquire a 49% stake in a joint venture entity related to Intel's Fab 34 in Ireland for $11 billion. The joint venture, Grange Newco LLC, will be involved in the operation of Fab 34, a state-of-the-art facility for manufacturing wafers using Intel's advanced process technologies. Intel Ireland, a wholly-owned subsidiary of Intel, will retain a 51% controlling interest and full ownership of Fab 34, including all intellectual property rights. The transaction is part of Intel's Smart Capital strategy, aiming to provide financial flexibility and support the company's global manufacturing operations. The closing of the transaction is expected in the second quarter of 2024, subject to customary conditions. The deal also includes ancillary agreements regarding the construction, operation, and wafer purchase obligations of Fab 34. Intel and Apollo issued a joint press release on the same day to announce the agreement.

On June 4, 2024, Intel Corporation announced a definitive agreement with Apollo Global Management, Inc., where Apollo-managed funds will acquire a 49% stake in a joint venture entity related to Intel's Fab 34 in Ireland for $11 billion. The joint venture, Grange Newco LLC, will be involved in the operation of Fab 34, a state-of-the-art facility for manufacturing wafers using Intel's advanced process technologies. Intel Ireland, a wholly-owned subsidiary of Intel, will retain a 51% controlling interest and full ownership of Fab 34, including all intellectual property rights. The transaction is part of Intel's Smart Capital strategy, aiming to provide financial flexibility and support the company's global manufacturing operations. The closing of the transaction is expected in the second quarter of 2024, subject to customary conditions. The deal also includes ancillary agreements regarding the construction, operation, and wafer purchase obligations of Fab 34. Intel and Apollo issued a joint press release on the same day to announce the agreement.