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Key Takeaways

• Intel is in advanced talks to sell a majority stake in its Altera programmable chips unit, Bloomberg reported Tuesday.

• The development comes after reporting over the weekend that Broadcom and TSMC are considering bids for parts of the storied chipmaker.

• Shares of Intel soared Tuesday, but have still lost more than a third of their value over the past 12 months.

Private equity firm Silver Lake Management is nearing a deal to buy a majority stake in Intel’s (INTC) Altera programmable chips unit, according to a Bloomberg report Tuesday.

The size of the deal has yet to be determined, the report said. Silver Lake declined to remark on the report, while Intel did not immediately respond to a request for comment.

Intel shares rocketed 16% higher Tuesday following the news and reports over the weekend that chip designer Broadcom (AVGO) and Taiwan Semiconductor Manufacturing Company (TSM) are considering bids for parts of the storied chipmaker. Broadcom is reportedly considering buying Intel's chip design business, while TSMC is focused on a deal for the manufacturing side.

The discussions around Intel also come amid speculation the company’s foundry business could benefit from U.S. government support for domestic chip manufacturing. Last week, Vice President JD Vance said the Trump administration wants artificial intelligence chips to be designed and manufactured in the U.S.

Despite the 16% jump in Intel shares Tuesday, the stock has still lost more than a third of its value over the past 12 months.

UPDATE—Feb. 18, 2025: This article has been updated since it was first published to reflect Silver Lake declined to comment on reported deal talks.

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