Altera Prepares for IPO with 20% Annual Growth, Operating Income Doubling

INTC-2.40%
According to Reuters on July 10, Altera, the Intel spinout now controlled by Silver Lake, is preparing for a public listing with approximately 20% annual growth and operating income more than doubling. The programmable-chip company was fully separated from Intel last September when Silver Lake acquired a 51% stake at a US$8.75 billion valuation. Altera targets AI and robotics markets, with CEO Raghib Hussain noting the company is developing products on Taiwan Semiconductor Manufacturing Co's advanced 2-nanometer and 3-nanometer technologies.
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