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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. Altera, which makes FPGAs used in communications, robotics, and AI, generated $1.54 billion in revenue in fiscal year 2024. The deal, expected to close in the second half of 2025, reflects Intel's focus on streamlining operations and strengthening its balance sheet. Raghib Hussain will become Altera's CEO on May 5th.

Prepared by Christopher Adams and reviewed by editorial team.