Altera Files for IPO at Over $10B Valuation After Intel Spinout

Altera Files for IPO at Over $10B Valuation After Intel Spinout

Altera, an Intel-backed programmable chip specialist focused on FPGAs, has filed for an IPO that could value it above $10 billion. The company, which Intel acquired in 2015 for $16.7 billion, generated $2.2 billion in revenue last year and serves AI, data centers, and telecom markets. Intel will retain a substantial stake post-IPO.