Intel Spins Off Altera FPGA Unit in $8.75B Deal with Silver Lake
Summary
In a strategic move, Intel is spinning off its Altera FPGA unit into an independent company by selling a 51% stake for $8.75 billion to Silver Lake, enabling Intel to streamline operations while allowing Altera to invest in emerging AI markets like edge computing and robotics.
Key Points
- Intel announced selling a 51% stake in its Altera FPGA business to Silver Lake for $8.75 billion, making Altera an independent FPGA company
- Raghib Hussain was appointed as the new CEO of Altera, succeeding Sandra Rivera
- The deal aims to sharpen Intel's focus, lower expenses, strengthen its balance sheet, and allow Altera to invest in emerging AI-driven markets like edge computing and robotics