Overview

• Silver Lake closed the purchase of 51% of Altera on Sept. 12 for about $3.3 billion, leaving Intel with a 49% stake.
• Intel will include Altera’s results in third‑quarter 2025 through Sept. 11, then account for its stake under the equity method.
• The company lowered its 2025 adjusted operating expense target to $16.8 billion from $17.0 billion and reaffirmed a $16.0 billion target for 2026.
• The U.S. secured a 10% equity stake in Intel’s foundry for $5.7 billion with a five‑year warrant to buy an additional 5% at $20 per share.
• CEO Lip‑Bu Tan is reducing headcount toward roughly 75,000 and forming a separate foundry board as the unit carries heavy losses, with shares up about 3% to 6% on the news.