Intel Announces Sale of 51% Stake in Altera to Silver Lake

Intel Corporation has signed a definitive agreement to sell 51% of its Altera business to Silver Lake, valuing the programmable semiconductor unit at $8.75 billion. The deal aims to establish Altera as the largest independent pure-play FPGA company, enhancing its strategic focus on high-growth, AI-driven markets like edge computing and robotics.

Intel will retain a 49% stake in Altera and expects the transaction to close in the second half of 2025. Upon closing, Altera’s financials will be deconsolidated from Intel’s books. In 2024, Altera reported $1.54 billion in revenue and a GAAP operating loss of $615 million, but a non-GAAP operating income of $35 million.

Raghib Hussain, a seasoned semiconductor executive formerly with Marvell and Cavium, will become CEO of Altera effective May 5, 2025, succeeding Sandra Rivera. Silver Lake, a leading technology investment firm, will bring capital and strategic expertise to accelerate Altera's growth.

Intel CEO Lip-Bu Tan noted that the transaction supports Intel’s plan to sharpen focus, reduce expenses, and strengthen the balance sheet, while still participating in Altera’s future upside. Silver Lake described the investment as a rare opportunity to scale a semiconductor leader, and both parties expressed commitment to long-term FPGA leadership.