Intel Sells Majority Stake in Altera to Silver Lake for $8.75 Billion

Santa Clara, California – Intel Corporation has agreed to sell a 51 percent stake in its FPGA chip company Altera to private equity firm Silver Lake for $8.75 billion. The deal, announced on April 14, 2025, allows Intel to retain a 49 percent stake in Altera, enabling the tech giant to participate in the company’s future while concentrating on its core business.

The transaction is expected to finalize in the second half of 2025, contingent upon certain closing conditions. In conjunction with the sale, Intel revealed that Raghib Hussain will replace Sandra Rivera as the CEO of Altera, effective May 5, 2025. Hussain previously served as president of products and technologies at Marvell.

“Today’s announcement reflects our commitment to sharpening our focus, lowering our expense structure, and strengthening our balance sheet,” said Lip-Bu Tan, Intel’s newly appointed CEO. “Altera continues to make progress repositioning its product portfolio to participate in the fastest-growing and most profitable segments of the FPGA market.”

Tan expressed gratitude for Rivera’s leadership throughout her 25-year career at Intel and extended wishes for her success in future endeavors. He also emphasized the potential benefits of partnering with Silver Lake, citing the private equity firm’s industry expertise as instrumental in driving Altera’s growth and unlocking additional value for Intel.

Intel first acquired Altera for $16.7 billion in 2015, integrating the company into its data center unit under the Programmable Solutions Group (PSG) brand. In 2024, however, Intel decided to relaunch Altera as an independent FPGA business.

Altera launched its new Agilex 3 FPGAs in March 2025, designed specifically for low-power applications. According to the firm, these chips deliver higher performance, boasting up to 1.9 times greater fabric performance with up to 38 percent less power consumption compared to the previous generation of Agilex FPGAs.