Altera, the world’s largest independent FPGA provider, plans to launch an IPO in 2026. The company aims to raise over $2 billion with the support of private equity firm Silver Lake, which acquired a 51% controlling stake in September 2025 for $4.46 billion.
The 2025 acquisition valued the company at $8.75 billion. Intel, which originally purchased Altera in 2015 for $16.7 billion, currently retains a 49% stake. The upcoming listing is expected to serve as a benchmark for the FPGA sector following the acquisition of Xilinx by AMD.
CEO Raghib Hussain reported that revenue grew by more than 20% in the previous year, with expectations for mid-20% growth in 2026 and a doubling of operating income. The company is focusing on AI, robotics, and edge computing, recently adding post-quantum support to its chips.
In preparation for the public offering, Altera appointed Kirsten Spears and Sumit Sadana as independent directors in September 2026. Investors are now awaiting the filing of the S-1 prospectus to review the company's unit economics and financial performance.
