Intel sells 51% stake in Altera chip business to Silver Lake

Intel has announced an agreement with private equity firm Silver Lake to sell 51% of its programmable chip business Altera to the latter, with the transaction valuing Altera at $8.75 billion. Intel will continue to hold the remaining 49% stake. At the same time, Intel also announced a plan to replace Altera's CEO, with Raghib Hussain replacing Sandra Rivera from May 5, 2025.