Overview

• Intel has agreed to sell a 51% stake in its Altera programmable chip business to private equity firm Silver Lake, valuing the unit at $8.75 billion.
• The transaction, expected to close in the second half of 2025, will leave Intel with a 49% minority stake, enabling it to retain strategic influence.
• Altera will transition to operational independence and will be led by Raghib Hussain, who will take over as CEO on May 5, 2025, replacing Sandra Rivera.
• The sale reflects a significant devaluation from Intel's $16.7 billion acquisition of Altera in 2015, as the company refocuses on its core operations.
• Intel’s restructuring aims to address financial challenges and intensify its focus on advanced chip manufacturing amid rising competition in the AI and semiconductor markets.