Apollo, KKR and Stonepeak may fund Intel’s Ireland facility, Bloomberg reports

:Apollo World Management, KKR & Co and Stonepeak also can make investments billions of bucks in a joint project to serve fund Intel’s semiconductor fabrication facility in Eire, Bloomberg Files reported on Friday.

Intel has been grappling with outdated skool keep a question to for its chips used in the worn files center and PC industry while it lags in the assist of in the AI semiconductor market with its lost technological edge.

Intel and KKR declined to touch upon the document, when contacted by Reuters. Apollo and Stonepeak did now not all of a sudden reply to requests for comment.

Phrases of the functionality JV including its size and structure be pleased now now not been finalized and can be pleased to peaceable peaceable alternate, the document added, citing contributors mindful of the subject. The JV also can elevate loads of billions, including debt.

Media experiences from February mentioned that Intel, which is working with advisors, had begun soliciting hobby from doable investors.

Intel on Thursday forecast 2nd-quarter earnings and earnings below market estimates.

The corporate has been making heavy investments to recoup its long lost lead in the chip manufacturing industry. Its Eire facility is a key half of this thought, being the first of its fabs to try high-volume manufacturing the usage of excessive ultraviolet (EUV) know-how.

In September closing 300 and sixty five days, Intel began high-volume manufacturing the usage of EUV lithography machines at its $18.5 billion plant in Eire.

The EUV machines, made by Dutch producer ASML, are some of potentially the costliest tools in the sphere.

Earlier in April, Intel acknowledged it had change into the first company to assemble one in every of ASML’s novel “Excessive NA EUV” lithography tools, which tag spherical 350 million euros ($374.4 million).

Intel shares closed down 9 per cent on Friday.

($1 = 0.9348 euros)