Intel is selling a 51% stake in its Altera semiconductor business to Silver Lake for $8.75 billion, making Altera operationally independent. Intel will retain 49% ownership. The move aims to sharpen Intel's focus and strengthen its balance sheet. Altera, which makes FPGAs used in various industries, generated $1.54 billion in revenue in fiscal year 2024. The deal is expected to close in the second half of 2025, with Raghib Hussain becoming Altera's CEO on May 5th.

Prepared by Christopher Adams and reviewed by editorial team.