Intel Corp. (INTC) is reportedly preparing for an initial public offering (IPO) of its Altera division, with sources indicating the deal could raise more than $2 billion. The offering is expected to occur as early as 2026.
The news comes from a report by Reuters, which cited sources familiar with the matter. The IPO is being led by Silver Lake, an investment firm that has been involved with the chipmaker. Silver Lake is reportedly working with financial advisers to prepare the listing.
Altera is a programmable semiconductor company that was acquired by Intel in 2015 for approximately $16.7 billion. The company is a key part of Intel's strategy to focus on its core manufacturing business and high-performance computing. The IPO would mark a significant step in Intel's efforts to spin off or sell non-core assets.
The report notes that the IPO is still in the early stages of planning and that there is no guarantee that the deal will happen. However, the sources said that the company is moving forward with the process.
Intel has been under pressure to improve its financial performance in recent years. The company has been struggling to compete with rivals such as Nvidia and AMD. The IPO of Altera could help Intel raise cash and focus on its core business.
