07:24 AM EDT, 06/05/2024 (MT Newswires) -- Apollo Global Management ( APO ) is likely to participate in more ventures similar to the $11 billion deal it made with Intel earlier this week, Apollo Co-President Scott Kleinman told Bloomberg Television in an interview on Wednesday.

"You're going to see more and more of this coming," Kleinman said on the sidelines of a conference in Berlin. The "need for this kind of capital is insatiable," he said as tech firms to boost their capacity in areas such as artificial intelligence.

Earlier this week, Apollo said it will acquire a 49% share of a joint venture that operates Intel's Fab 34 chip-making plant in Ireland.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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