Altera, a chipmaker previously acquired by Intel in 2015 for $16.7 billion, has submitted a confidential filing for an initial public offering. In September 2025, Intel sold a 51% stake in the company to Silver Lake for $4.46 billion, retaining a 49% interest. At that time, the company's valuation was estimated at $8.75 billion.
The company specializes in field-programmable gate arrays (FPGAs) used in artificial intelligence, industrial automation, and robotics. Altera recently extended the product lifecycle for its Agilex, MAX 10, and Cyclone V series, ensuring availability until 2045 to support critical systems in the aerospace, medical, and industrial sectors.
This IPO could become the largest in the semiconductor sector since Arm's public offering in 2023, which raised nearly $5 billion. The move follows a surge in US market activity, where $160.6 billion has been raised through IPOs this year. Analysts expect 2026 to set a post-pandemic record for the volume and scale of market debuts.
