Apollo, KKR and Stonepeak may fund Intel’s Ireland facility: Report

Apollo Global Management, KKR & Co and Stonepeak may invest billions of dollars in a joint venture to help fund Intel’s semiconductor fabrication facility in Ireland, Bloomberg News reported on Friday.

Intel has been grappling with weak demand for its chips used in the traditional data center and PC industry while it lags behind in the AI semiconductor market with its lost technological edge.

Intel and KKR declined to comment on the report, when contacted by Reuters. Apollo and Stonepeak did not immediately respond to requests for comment.