Intel Offloads Majority Stake in Altera, Driving Stock Gains

Tech giant Intel has made a strategic shift, selling its 51% stake in the Altera programmable chip business to Silver Lake for $4.46 billion. This decision, spearheaded by CEO Lip-Bu Tan, is part of Intel’s broader plan to streamline operations and focus on core competencies. The sale values Altera at $8.75 billion, down from the initial $17 billion Intel paid in 2015. This move reflects Intel’s efforts to strengthen its financial standing while prioritizing areas like AI and central processor development.