Altera, a manufacturer of programmable logic chips, has confidentially filed for an initial public offering. The company aims to raise over $2 billion through the listing, which is anticipated to take place by late 2026. Barclays, Citi, JPMorgan, and Morgan Stanley have been selected as underwriters for the transaction.
The company was originally acquired by Intel in 2015 for $16.7 billion. In 2025, the private equity firm Silver Lake purchased a 51% controlling stake in Altera for $4.46 billion, valuing the business at $8.75 billion. The entity was separated from Intel during 2024–2025.
For fiscal 2024, Altera reported revenue of approximately $1.54 billion, representing a year-on-year growth of over 20%. Projections for 2026 suggest growth in the mid-20% range, potentially pushing annual revenue beyond $1.9 billion.
Altera produces field-programmable gate arrays for sectors including data centers, aerospace, defense, and edge artificial intelligence. In September 2026, the company appointed Kirsten Spears and Sumit Sadana as independent directors to its board to strengthen corporate governance.
