Overview
- Altera confidentially filed a U.S. S-1 registration for an initial public offering on Tuesday and has not yet disclosed share count, price range, or a timetable for the listing.
- Reports say the offering could raise more than $2 billion and that Barclays, Citi, JPMorgan and Morgan Stanley are expected to be tapped as lead underwriters.
- Private equity firm Silver Lake owns a 51% controlling stake in Altera and Intel retains a 49% stake after the company was carved out of Intel in 2024–2025.
- Altera makes field-programmable gate arrays, or FPGAs, which are reprogrammable chips used in data centers, telecoms, industrial systems, AI edge devices, and defense; the company reported roughly $1.54 billion in revenue for fiscal 2024 and expects mid-20% growth.
- If completed, the IPO would restore a public pure-play FPGA option for investors and could supply capital for Altera’s expansion into AI infrastructure while giving Intel and Silver Lake a market valuation to guide future ownership and strategy.