CosmicTaco

Intel Seeks Investor for Altera Stake Amid Market Struggles

CosmicTaco · 2024-10-18T12:20:47.501181+05:30

- **Intel** is looking to sell a minority stake in its **Altera** unit, valued at around **$17 billion**. - The move aims to raise several billion dollars to support Intel's **semiconductor fabrication ambitions**. - Intel's stock has dropped **50% this year**, losing ground to **NVIDIA** and **AMD**. - The company is facing scrutiny in **China** and challenges in the **AI** and **PC** markets. - CEO **Pat Gelsinger** had previously emphasized Altera's importance but now seeks to reassure investors. Source: [Benzinga](https://www.benzinga.com/markets/equities/24/10/41395473/intel-reportedly-considers-selling-minority-stake-in-altera-unit-for-17b-amid-market-challenges-), [Business Insider](https://www.businessinsider.com/intel-altera-investor-subsidiary-billions-stake-semiconductor-chips-deals-2024-10), [Cnbc](https://www.cnbc.com/2024/10/18/intel-seeks-billions-for-minority-stake-in-altera-business-sources-say.html)

Intel is looking to sell a minority stake in its Altera unit, valued at around $17 billion.
The move aims to raise several billion dollars to support Intel's semiconductor fabrication ambitions.
Intel's stock has dropped 50% this year, losing ground to NVIDIA and AMD.
The company is facing scrutiny in China and challenges in the AI and PC markets.
CEO Pat Gelsinger had previously emphasized Altera's importance but now seeks to reassure investors.