Intel is selling a 51% stake in its programmable chips unit, Altera, to Silver Lake in a deal valuing the business at $8.75 billion—about half of what Intel paid in 2015.

Intel will retain a 49% stake and receive $3.4 billion in cash.

The move is part of Intel’s broader plan to shed non-core assets and refocus its business.

Altera will now be led by Raghib Hussain, formerly of Marvell.

Silver Lake plans to invest in AI-driven markets like edge computing and robotics, Yahoo Finance has reported.

The deal is expected to close in the second half of 2025.

Written by B.C. Begley