Mobileye’s desire to give more financial autonomy to the subsidiary that became part of Intel over the past decade has prompted Mobileye to go public. Now that Altera plans to raise more than $2 billion through an IPO this year, it may follow a similar path.
Image source: Intel
At least that’s what the agency reports. Reuters Refer to people familiar with the matter. Since Silver Lake is Altera’s majority shareholder, the investment company is also actively involved in preparations for the IPO, attracting Barclays, Citigroup, JPMorgan Chase and Morgan Stanley as subscribers, although the latter’s list has not yet been finalized. Altera’s IPO documents will be filed in the coming weeks, with the goal of completing the IPO before the end of this year.
The company’s potential IPO could become the largest in the semiconductor industry since British holding Arm, which raised nearly $5 billion when it entered the U.S. stock exchange in 2023. As of the end of August, a total of $137 billion had been raised in the U.S. stock market this year. That amount should increase significantly, as artificial intelligence startup Anthropic plans to raise about $100 billion by the end of October. The previous record for total funding in the United States was set in 2021, during which IPOs raised $156 billion.
Recall that Altera was acquired by Intel in 2015 for $16.7 billion, and last September the parent company gained structural independence by agreeing to sell its 51% stake to Silver Lake for $4.46 billion. After the deal, Altera’s market value reached $8.75 billion, with Intel retaining 49% of the shares. Obviously, the IPO of this one-time subsidiary will allow Intel to reduce the amount of funds allocated to its development. Altera focuses on creating programmable matrices that developers can use to solve specific problems in situations where it is not possible to create specialized processors with functionality fixed at the wafer level.
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