Altera prepares for IPO in the US

Chipmaker Altera has filed a confidential application for an initial public offering of shares in the US. The company is considering raising more than $2 billion through the IPO. If this happens, it would be one of the largest semiconductor sector IPOs in recent times.

Altera manufactures programmable chips used in data centers, telecommunications networks, industrial equipment, defense, and AI systems. The company is not directly focused on AI chips, but its products are used alongside GPUs in data centers, including for networking and data processing.

Intel acquired Altera for approximately $16.7 billion in 2015. Last year, Silver Lake bought a 51% stake in the company for $4.46 billion, valuing Altera at $8.75 billion. Intel retained the remaining 49%.

The IPO coincides with a period of heightened activity in US public offerings. This year, funds raised through IPOs in the US have already exceeded $145 billion. Altera's management expects revenue growth of approximately 20-25% in 2026.

Source: Reuters