Intel-backed Altera files confidentially for IPO

Altera, a programmable-chip maker backed by Intel and Silver Lake, has filed confidentially for an initial public offering, according to a Bloomberg Terminal announcement. The company has not yet determined how many shares it will offer or the price range.

Altera makes programmable chips used in applications including artificial intelligence, industrial automation and robotics. The business traces its history to 1983, and Intel acquired it in 2015 for about $16.7 billion.

Silver Lake acquired a 51% stake in Altera last year. MGX, an Abu Dhabi-backed investment company, later joined the deal. The ownership changes have positioned Altera for a public offering as demand for AI infrastructure continues to draw investors to the semiconductor industry.

The confidential filing does not set a timetable for the IPO or disclose the company’s valuation. Altera will need to make a public filing before its shares can begin trading, providing more detail on its financial performance, offering size and proposed listing.

The move comes during a strong year for US IPOs. Companies are taking advantage of a surge in AI investment, and first-time share sales have raised $160.6 billion in 2026, excluding blank-check companies and other financial vehicles, according to data compiled by Bloomberg. That pace would make 2026 the biggest year for new listings since the pandemic.