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Intel seeks billions for minority stake in Altera business, sources say - TL;DR CNBC

Intel seeks billions for minority stake in Altera business, sources say

Publishing timestamp: 2024-10-18 01:33:13


Summary

Intel is looking for an investor to acquire at least a minority stake in its Altera subsidiary for billions of dollars. The sale process represents a change from Intel's previous plans to potentially monetize Altera through an IPO. The move comes as Intel has faced stock price drops and market share losses, with Qualcomm expressing interest in acquiring the company. Intel's stock was up more than 1% following the news.


Sentiment: MIXED

Tickers: NVDAQCOMINTCAMD

Keywords: breaking news: technologyqualcomm incintel corpadvanced micro devices incnvidia corpbusiness newstechnologybreaking news

Source: https://www.cnbc.com/2024/10/18/intel-seeks-billions-for-minority-stake-in-altera-business-sources-say.html


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