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Intel-Backed Altera Targets $2 Billion IPO to Fuel Market Return
Electronic Technology · Semiconductors · yonhap_finance · 2026-09-11
Altera, the FPGA specialist partially owned by Intel, is preparing for a $2 billion IPO as part of Intel's broader efforts to restructure its finances.
What Happened
IPO Plans: Altera, a semiconductor firm backed by Intel and Silver Lake, is reportedly preparing for an initial public offering aiming to raise over $2 billion. The company has selected major investment banks, including JPMorgan and Morgan Stanley, to lead the process, with filings expected in the coming weeks.
Company Background: Founded in 1983, Altera specializes in field-programmable gate arrays (FPGAs) used in data centers, AI, and defense systems. Intel acquired the company in 2015 for $16.7 billion but sold a 51% stake to Silver Lake last year, leaving Intel with a 49% ownership interest.
Strategic Restructuring: The IPO is a key component of Intel's ongoing efforts to streamline operations and improve its balance sheet. Under the leadership of CEO Lip-Bu Tan, the company has been aggressively pursuing asset divestitures and capital raises to restore investor confidence.
Market Context: This move marks a significant return for Altera, which would be listed publicly for the first time in 11 years. The potential offering follows a series of large-scale IPOs in the U.S. market this year, signaling a robust environment for major semiconductor companies seeking capital.