Altera, an Intel-owned company, could sell a minority stake to buyout firms Silver Lake and Bain Capital, sources told Reuters. They said that Intel had initiated a stake sale process for Altera in recent weeks and that discussions were at an early stage and potential offers were expected in the coming weeks.

According to the report, private equity firm Francisco Partners could also be among the bidders. The sources reported this information to Reuters on condition of anonymity because the matter is confidential.

Intel is reportedly trying to recoup as much with Altera as it paid for the deal in 2015. It is currently unknown how much of Intel's shares will be sold, but the sources said any deal will be worth at least a few billion dollars.

It's no secret that Intel is trying to sell a stake in Altera. In fact, Intel CEO Pat Gelsinger said:

“We remain focused on selling a stake in Altera with a view to going public in the coming years. To this end, we have begun discussions with potential investors and expect to close in early 2025.”

Intel is currently trying to find ways to reduce its overall costs by selling parts of its business that it cannot finance from its now reduced profits. The difficulties are reflected in the stock price, which stands at $22.52 per share, compared to around $68 in 2021.

While Intel is now catching up in the artificial intelligence space, it missed out on the early benefits when OpenAI chose Nvidia hardware to power its popular ChatGPT AI solution.

Source: Reuters