Intel Offloads Majority Stake in Altera to Silver Lake for $4.46 Billion Amid Strategic Overhaul
In a major move to sharpen its focus and fund its turnaround strategy, Intel has announced the sale of a 51% stake in its Altera programmable chip unit to private equity firm Silver Lake. The deal, valued at $4.46 billion, gives Altera a total valuation of $8.75 billion.
This decision comes as Intel looks to streamline its operations and free up capital amid ongoing efforts to regain ground in the semiconductor industry. Once the transaction is finalized in the second half of 2025, Altera will no longer be consolidated in Intel’s financial statements.
Although Altera contributed just 3% of Intel’s revenue in 2024, it reported a significant operating loss of $615 million. As part of the transition, former Marvell executive Raghib Hussain will take over as CEO of Altera, replacing Sandra Rivera, who is shifting to lead Intel’s data center division.
The move signals Intel CEO Pat Gelsinger’s push to boost efficiency, cut costs, and refocus the company’s vast portfolio amid growing competition and evolving market demands.