Altera Confidentially Files for IPO to Raise $2 Billion

Altera, a San Jose-based chipmaker specializing in programmable chips for AI, data centers, and aerospace, has confidentially filed for an initial public offering in the United States. The company seeks to leverage high investor demand for AI-related businesses and could raise more than $2 billion as early as this year, which would make it one of the largest semiconductor listings since 2023.

Altera transitioned to a standalone entity last September after Silver Lake acquired a 51% stake for $4.46 billion. Intel retains a 49% ownership stake in the company. CEO Raghib Hussain previously stated that the company expects growth in the mid-20% range for the current year.