Intel Divests Majority Stake in Altera for $4.46 Billion Amid Strategic Shift

Intel is selling a 51% stake in Altera for $4.46 billion, marking a significant move under new CEO Lip-Bu Tan to streamline operations and focus on core business areas.

In a move that’s got everyone talking, Intel’s decided to offload a 51% chunk of Altera—yeah, the chip-maker they snapped up back in 2015 for a cool $16.7 billion—for $4.46 billion. Talk about a haircut! Slated to wrap up later this year, this sale is all part of new CEO Lip-Bu Tan’s master plan to get Intel back on track. Altera’s not just any company; their field programmable gate array chips are the unsung heroes behind everything from your favorite retro gaming consoles to the telecom networks keeping us all connected.

This isn’t just any sale; it’s a statement. Under Tan, who stepped into the CEO shoes in March, Intel’s clearly not afraid to make tough calls to steer the ship through choppy waters. Sure, the price tag’s a far cry from what they paid, but let’s be real—cash is king right now, and this deal pumps some much-needed green into Intel’s veins. It’s one of Tan’s first big plays, and if this is any indication, Intel’s in for some interesting times ahead.