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Intel Corp. (NASDAQ:INTC) shares are climbing Thursday. This move comes despite a broader market retreat. The Nasdaq is currently down 0.28%. Meanwhile, the S&P 500 has shed 0.19%.
Massive Repurchase Deal In Ireland
The primary catalyst is a $14.2 billion agreement. Intel will repurchase Apollo Global Management’s (NYSE:APO) 49% stake in its Ireland Fab 34 joint venture for $14.2 billion, restoring full ownership. The buyback reverses a 2024 deal that gave Intel financial flexibility to fund advanced chip manufacturing.
The transaction will be funded with cash and about …
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