Intel Seeks Investor for Minority Stake in Altera Valued at $17 Billion

The tech giant aims to bolster finances amidst market challenges and declining stock value.

Intel is in discussions to sell a minority stake in its Altera chipmaking division, seeking a valuation of approximately $17 billion.
The move comes as Intel faces significant financial challenges, including a 50% drop in stock value this year.
Potential investors include private equity and strategic partners, with discussions also considering the sale of a majority stake.
This strategic shift marks a departure from previous plans to take Altera public through an IPO by 2026.
Intel's financial struggles are compounded by competition in the AI and semiconductor markets and geopolitical tensions affecting its operations.