Intel Sells Majority Stake in Altera to Silver Lake

Ailing chip giant Intel has sold a majority stake in FPGA maker Altera to private equity group Silver Lake. The deal values Altera at $8.75 billion, losing about half of its value since it was acquired by Intel for $16.7 billion in 2015.

Intel announced it would spin out Altera in February as previous leadership sought to cut the company’s costs. At the time, Altera said it was seeking an investor to take a minority stake, and that it was considering an IPO for 2026.