Private equity firm Silver Lake will buy 51 per cent in a deal that values Altera at US$8.75 billion. The three companies expect the deal to close in the second half of the year. (The Logic)

Talking point: Altera makes field programmable gate arrays (FPGAs), a type of chip that can be reconfigured for different uses without making modifications to the physical hardware. Intel acquired the firm in December 2015, then spun it out again in February 2024. Altera lost US$615 million on US$1.54 billion in revenue in fiscal 2024. Intel’s partial divestment is part of new CEO Lip-Bu Tan’s turnaround plan for the chip giant, which has faced challenges in its fabrication and AI ambitions. Pre-acquisition, Altera had a major R&D lab in Toronto; alumni of the company now hold key roles at several firms that are developing chips or software for their hardware in the city.