Intel is selling a 51% stake in its Altera chip business to Silver Lake for $4.46 billion, valuing Altera at $8.75 billion. This move, under new CEO Lip-Bu Tan, aims to improve Intel's financial position and reduce costs. The sale follows Intel's efforts to spin off Altera as a separate entity. The deal is expected to close in the second half of 2025, with Raghib Hussain becoming Altera's new CEO in May. Intel's stock rose following the announcement.

Prepared by Christopher Adams and reviewed by editorial team.