Intel is in advanced talks to sell a majority stake in its Altera programmable chips unit, according to Bloomberg. The move comes after reports that Broadcom and TSMC are considering bids for parts of the storied chipmaker.
Shares of Intel rose 16% on Tuesday following the news, but have still lost over a third of their value since last year. Private equity firm Silver Lake Management is reportedly nearing a deal to buy a majority stake in Altera. The size of the deal has not been disclosed.
The discussions around Intel’s foundry business are also fueled by speculation that US government support for domestic chip manufacturing could be on the horizon. Vice President JD Vance recently stated that artificial intelligence chips should be designed and manufactured in the US.
Despite the recent jump in Intel shares, the stock remains down over 30% from its value last year.
Source: https://www.investopedia.com/intel-could-soon-sell-majority-stake-in-its-altera-programmable-chip-unit-11682001