Intel aims to refocus on its core chip business after years of failed diversification|Sixflashphoto|CC BY-SA 4.0

Intel will sell a 51% stake in its Altera programmable chip unit to Silver Lake for $4.46 billion, the company said on Monday.

The deal, valuing Altera at $8.75 billion—nearly half of the $17 billion Intel paid to buy it in 2015—marks new CEO Lip-Bu Tan’s first big move to revive the company.

After years of failed diversification, Intel aims to refocus on its core chip business. The sale will help ease the financial strain from former CEO Pat Gelsinger’s manufacturing bets.

Altera posted a $615 million loss in 2024. The deal closes in late 2025. Intel shares rose 2.8%. 

Analysts expect more asset sales, including parts of self-driving tech firm Mobileye.