On October 17th, insiders revealed that Intel is seeking to sell a minority stake in its programmable device manufacturing division Altera to raise billions of dollars in cash. It is reported that Intel has issued invitations to some private equity firms and strategic investors regarding Altera shares this week.
Insiders say that Intel hopes this potential transaction will value Altera at nearly $17 billion. Intel acquired Altera for $16.7 billion in 2015.
Just last month, Intel CEO Pat Kissinger stated that the company's leadership believes Altera is Intel's core business for the future.