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Intel Corp. (INTC) shares gained more than 2% in Wednesday’s pre-market trade after the company announced a massive $14.2 billion deal with Apollo Global Management Inc. (APO) to fuel its AI ambitions.
Intel stated that it has entered into a definitive agreement with Apollo to repurchase the 49% equity interest in the joint venture related to Intel’s Fab 34 in Ireland.
Retail sentiment on Stocktwits around Intel trended in the ‘neutral’ territory at the time of writing. INTC was among the top trending tickers on the platform.
Apollo shares were up nearly 1% at the time of writing.
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