From CRN: Intel is close to securing more than $11 billion from Apollo Global Management to build a new chip fabrication plant in Ireland, according to a Monday report.
The Wall Street Journal reported Monday that Intel is in “advanced talks” with the alternative-investment giant for the deal and that it could be sealed “in the coming weeks,” citing anonymous sources.
Apollo is among multiple alternative-investment firms that have been seeking to strike a deal with Intel for the Ireland fab, and the firm is now said to be in the lead.
An Intel spokesperson declined to comment.
The Santa Clara, Calif.-based company is seeking external funding to help pay for new fabs as part of CEO Pat Gelsinger’s comeback plan, which calls for a major expansion in chip manufacturing capacity in the West to support an expected increase demand for its own products as well as its revitalized contract chip-making business.
Since January, Intel’s manufacturing business has operated as an independent entity called Intel Foundry that puts the company’s product design teams on the same footing as external chip designers it hopes to court as customers for contract deals.
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