What's Going On With Intel Stock Wednesday?
Portfolio Pulse from Adam Eckert
Intel Corp (NASDAQ: INTC) shares are rising after announcing a joint venture with Apollo-managed funds, involving an $11 billion investment for a 49% equity interest in Intel's Fab 34 in Ireland. This move allows Intel to redeploy funds while maintaining control over Fab 34.
June 05, 2024 | 1:19 pm
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Intel's shares are moving higher following the announcement of an $11 billion joint venture with Apollo-managed funds for a 49% equity interest in Fab 34. This transaction allows Intel to redeploy funds to other parts of its business while maintaining control over Fab 34.
The joint venture with Apollo-managed funds provides Intel with significant capital ($11 billion) while allowing it to maintain control over Fab 34. This strategic move is likely to be viewed positively by investors as it enhances Intel's financial flexibility and supports its long-term growth strategy.
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