Buying a startup and building a new factory are entirely different.
Intel is investing in israel because the board members and owners are israeli and they are ideologically motivated to support the Apartheid state.
It does not take a genius to realize that making your biggest investment ever in an active war zone where WW3 is likely to pop off is not a great plan. It would be like Russia starting a chip factory in the Donbass.
In any case the stock doesn't fall without reason. And unlike AMD with Ryzen there does not seem to be a magical comeback plan for Intel that is paying off over time. ARC has failed to deliver.