Intel Corporation (Nasdaq: INTC) and Apollo (NYSE: APO) today announced a definitive agreement for Intel to repurchase the 49% equity interest in the joint venture related to Intel's Fab 34 in Ireland not held by Intel for $14.2 billion. The agreement reflects Intel's continued business momentum underpinned by the growing and essential role CPUs play in the era of AI, a significantly strengthened balance sheet and the strong partnership between Intel and Apollo.

In 2024, Apollo-managed funds and affiliates led an $11.2 billion investment to acquire a 49% equity interest in a joint venture entity related to Fab 34, providing Intel with equity-like capital while preserving balance sheet strength. This transaction provided Intel with significant financial flexibility and enabled the company to unlock and redeploy capital to advance its strategic priorities including accelerating the buildout of Intel 4 and Intel 3, the most advanced processes manufactured in Europe, and of Intel 18A, the most advanced process developed and manufactured in the U.S. today.

NVIDIA today announced that it is working with the U.S. Department of Energy's national labs and the nation's leading companies to build America's AI infrastructure to support scientific discovery, economic growth and power the next industrial revolution.

"We are at the dawn of the AI industrial revolution that will define the future of every industry and nation," said Jensen Huang, founder and CEO of NVIDIA. "It is imperative that America lead the race to the future—this is our generation's Apollo moment. The next wave of inventions, discoveries and progress will be determined by our nation's ability to scale AI infrastructure. Together with our partners, we are building the most advanced AI infrastructure ever created, ensuring that America has the foundation for a prosperous future, and that the world's AI runs on American innovation, openness and collaboration, for the benefit of all."

XConn Technologies (XConn), the innovation leader in next-generation interconnect technology for high-performance computing and AI workloads, today announced that it will deliver a live, end-to-end PCIe Gen 6.2 and CXL 3.1 technology demonstration at the Future of Memory and Storage (FMS25) event, taking place August 5-7 at the Santa Clara Convention Center in booth #1245.

The demonstration will highlight how XConn's advanced switching solutions can enable next-generation systems with ultra-high bandwidth, extremely low latency, and seamless support for emerging memory and accelerator architectures. Attendees will see first-hand how Peripheral Component Interconnect Express (PCIe) Gen 6.2 and Compute Express Link (CXL) 3.1 technologies are driving the future of composable infrastructure and disaggregated computing.

Intel could get a substantial multibillion-dollar investment from Apollo Global Management Inc., according to a recent report by Bloomberg which relies on inside information from people familiar with the matter. It is said that Apollo is willing to invest up to $5 billion in Intel, and it is worth noting that this came up just after rumors about Qualcomm's intentions for a friendly takeover of Intel emerged last week. Intel and Apollo representatives have declined to comment thus far, however, it is said that Intel executives have been weighing Apollo's proposal.

Apollo is not a newcomer to the chipmaking industry; in 2023, the New York-based company made a $900 million investment in Western Digital buying convertible preferred stock. As for Intel and Apollo, they are no strangers to each other. Just this past June, Intel agreed to sell a stake in a joint venture that controls Intel's Fab 34 plant in Ireland to Apollo for $11 billion. While rumors come and go, one thing is for sure: Intel's short-term future relies on the success of its upcoming products like Arrow Lake desktop architecture to be released on October 24, and its foundry business division.