Intel-Backed Chipmaker Altera Files Confidentially for IPO

Altera, a chipmaker backed by Silver Lake and Intel Corp., filed confidentially for an initial public offering.

The company, which makes programmable chips for applications including artificial intelligence, industrial automation and robotics, hasn’t determined the number of shares it will offer or the price range, according to an announcement Tuesday.

Altera traces its history to 1983, according to its website. 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.

US IPO activity has soared as companies capitalize on a frenzy of AI investment. First-time share sales have raised $160.6 billion, excluding blank-check firms and other financial vehicles, setting 2026 up to be the biggest year for debuts since the pandemic, according to data compiled by Bloomberg.