Exclusive-Silver Lake, Intel-backed Altera prepares IPO that could raise over $2 billion as early as 2026, sources say

Silver Lake and Intel-backed chipmaker Altera are gearing up for an Initial Public Offering (IPO) that could raise over $2 billion, potentially as early as 2026, according to sources. The IPO, one of the largest in the semiconductor industry in recent years, would be a significant listing in a year that has seen a record U.S. IPO market raise $137 billion, excluding special-purpose acquisition companies.

Barclays, Citi, JPMorgan, and Morgan Stanley are currently underwriting the offering, though the arrangement has not been finalized. The San Jose-based company, which was acquired by Intel for $16.7 billion in 2015, plans to file a confidential IPO in the coming weeks. The listing could come this year, although the timing and size of the offering may still change.

Altera's programmable chips are used in various sectors, including telecom equipment, military, data centers, and artificial intelligence applications.