Exclusive-Silver Lake, Intel-backed Altera prepares IPO that could raise over $2 billion as early as 2026, sources say

Altera, a semiconductor firm backed by Intel and private equity firm Silver Lake, is preparing for an initial public offering that could raise more than $2 billion. According to sources familiar with the matter, the company is targeting a public market debut as early as 2026.

The move follows Intel's 2023 decision to spin off Altera as a standalone business, a strategic shift aimed at unlocking value within its programmable chip unit. The planned IPO represents a significant milestone in the restructuring efforts of the parent company as it seeks to streamline operations and capitalize on the growing demand for specialized hardware.