In a bold move that’s got the tech world buzzing, Intel is parting ways with a whopping 51% stake in Altera for $4.46 billion! 💸 This deal, expected to wrap up later this year, is a clear signal from new CEO Lip-Bu Tan that Intel is serious about tightening its belt and focusing on the future. “Sharpening our focus and strengthening our balance sheet,” Tan says, and we’re all here for it. 🚀
Altera, known for its field programmable gate array chips that power everything from retro gaming consoles like the Analogue to military and telecom gear, was a $16.7 billion acquisition for Intel back in 2015. Fast forward to today, and it’s clear the valuation has taken a nosedive. But hey, cash is king, especially when you’re at a crossroads. 🤷♂️
With Tan at the helm since March, Intel’s looking to turn the page on past missteps. This sale? Just the beginning of what promises to be a thrilling chapter for the chip giant. Stay tuned! 📈
