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Intel Sets to Seal $11 Billion Deal with Apollo in Ireland

Dublin: Reports have emerged suggesting that Intel is poised to engage in a $11 billion venture in Ireland, in collaboration with Apollo. Discussions regarding this potential venture are reportedly underway with Apollo Global Management, with speculation indicating that a formal agreement may materialise in the coming weeks. However, neither Apollo Global Management nor Intel have officially confirmed these developments.

According to sources, this endeavour forms part of Intel’s broader strategy to expand its operations by investing $100 billion across four countries. The initiative aims to bolster Intel’s presence within the United States while enhancing its manufacturing capabilities, with the overarching goal of asserting control over chip-making rival TSMC.

In 2022, Intel had previously announced intentions to establish chip factories in Ireland and France. This strategic move is perceived as a means to strategically leverage funds and subsidies offered by the European Commission.

The uptick in demand for AI components has consequently dampened the market for traditional data centres and personal computing chips, with Intel’s projected second-quarter revenue and profit anticipated to register a decline compared to the previous month.

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