Stock Market Today, April 1: Intel Surges on $14.2 Billion Fab Buyback
Intel (NASDAQ:INTC), designer and manufacturer of computer processors and related technologies, closed at $48.03, up 8.84% Wednesday. The stock moved higher after Intel agreed to spend $14.2 billion to repurchase Apollo Global Management‘s (NYSE:APO) 49% stake in its Fab 34 Ireland plant. Investors will now be watching how this deal supports its AI-focused foundry roadmap.
Trading volume reached 128.9 million shares, coming in nearly 22% above its three-month average of 106.1 million shares. Intel IPO'd in 1980 and has grown 14,655% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) rose 0.72% to 6,575, while the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.16% to finish at 21,841. Among semiconductors, industry rivals Advanced Micro Devices (NASDAQ:AMD) closed at $210.21 (+3.33%), and Nvidia (NASDAQ:NVDA) ended at $175.75 (+0.77%) as investors reassessed AI chip demand.
What this means for investors
Two years ago, the Apollo-led investment in the Fab 34 facility provided Intel a way to bolster its balance sheet without giving up majority ownership or operational control of the plant.
Intel’s business is in a different place now. Apollo’s $11.2 billion investment looks to have worked out for both parties.
Intel’s $14.2 billion deal to back back Apollo’s 49% stake restores full ownership, boosting the chipmaker’s base for manufacturing AI-related products.
Investors liked the deal, believing a long runway in AI investments will help boost Intel shares moving forward. One thing is for certain. It shows that Intel is in a much better place today than it was two years ago.
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Howard Smith has positions in Nvidia and has the following options: short April 2026 $180 calls on Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Intel, and Nvidia. The Motley Fool has a disclosure policy.
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