Overview

• Intel finalized the sale of a 51% stake in Altera to Silver Lake on Sept. 12 for roughly $3.3 billion, retaining a 49% interest.
• The company lowered its 2025 non-GAAP operating expense target to $16.8 billion, with its 2026 target unchanged at $16.0 billion.
• Intel will include Altera’s results in the third quarter only through Sept. 11, then account for the stake under the equity method.
• Shares rose about 6% intraday on Monday after the expense outlook was cut following the Altera deconsolidation.
• The move aligns with CEO Lip-Bu Tan’s broader cost actions, including layoffs, shutting the automotive unit, and outsourcing marketing, as Altera reported $816 million in first-half 2025 revenue with a 55% gross margin.