Intel (NASDAQ:INTC) stock is on the rise Monday after reports spread that the company is in talks with private equity firm Apollo Global Management for an $11 billion assist.
According to these reports, Intel is closing in on a deal with Apollo Global Management that will have the firm helping fund the creation of a new chip factory in Ireland. The inside sources claim this deal could be announced in the coming weeks.
This builds on Intel’s announcement in 2022 to build chip factories in Ireland and France. This is part of its plan to expand its chipmaking to catch up with Chinese rivals. It would also see it benefit from European Commission funding rules.
What This Means for INTC Stock
Investors are excited about Intel building new factories to create more chips. That comes as demand for computer components is increasing during demand for artificial intelligence (AI) technology.
To go along with that, the U.S. and other countries are cracking down on trade with China. That includes technology products and components. That could see an increase in demand for Intel’s chips as this conflict continues.
INTC stock is up 3.9% as of Monday morning with more than 15.7 million shares traded. That’s still a far ways off from its daily average trading volume of about 49.9 million shares.
Investors will want to keep reading for even more of the most recent stock market stories!
We have all of the hottest stock market news that traders need to know about on Monday! That includes what’s happening with shares of Kenvue (NYSE:KVUE) stock, Squarespace (NYSE:SQSP) stock and Oklo (NYSE:OKLO) stock today. All of this info is available at the links below!
More Monday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
