Intel-Backed Altera Seeking IPO as Soon as 2026, Reuters Says

Altera, a chipmaker backed by Silver Lake and Intel Corp., is preparing to file confidentially for an initial public offering that could occur as soon as this year, Reuters reported, citing people familiar with the matter.

The company has picked Barclays Plc, Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley as underwriters, Reuters said, citing people who requested anonymity because the talks are confidential. A listing could raise more than $2 billion, and Altera is set to file confidentially in the coming weeks, the media outlet reported.

Barclays, JPMorgan, Morgan Stanley and Silver Lake declined to comment to Reuters. Altera, Citigroup and Intel didn’t immediately respond to its requests for comment.

Altera traces its history to 1983, according to its website. The company makes programmable chips for applications including artificial intelligence, industrial automation and robotics, the site shows.

Intel acquired the company in 2015 for around $16.7 billion. Silver Lake acquired a 51% stake in Altera last year, with MGX, an Abu Dhabi-backed investment company, joining the deal later.