Intel Eyes Altera Stake Sale To Raise Billions As Chipmaker Struggles To Gain Ground In AI Boom

Benzinga 2024-10-18

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Intel reportedly seeks to sell a minority stake in its Altera unit, aiming to raise billions in cash as the company struggles with market share losses and stock declines. Intel is looking for a deal that values Altera at around $17 billion, close to the $16.7 billion it paid in 2015. The move would accelerate previous plans to monetize Altera, which included a potential IPO by 2026. Qualcomm has expressed interest in acquiring Intel, a potential deal facing regulatory challenges. Intel shares are down 50% this year, losing ground to Nvidia and AMD.

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