The queue of chipmakers heading for the public markets just got longer.
Altera confirmed on Tuesday that it has registered privately for a US listing, a route that keeps financial statements sealed until a deal gets close to pricing.
The San Jose company sells programmable logic. Silver Lake holds the controlling stake it bought last September, and Intel holds the rest.
What the offering could raise
Reuters reported the week before that the sale could bring in more than $2B as early as this year, with Barclays, Citi, JPMorgan and Morgan Stanley working on it. Altera and the banks declined to comment on the lineup.
Silver Lake paid $4.46B for its 51 percent stake, a deal that valued the chipmaker at $8.75B. Intel’s own purchase of the business came in 2015, at about $16.7B.
Altera’s chips land in data centers, telecom networks, industrial equipment, AI systems and aerospace and defense hardware. Chief Executive Raghib Hussain told Reuters in July that the company expected growth in the mid-20 percent range this year, its first as a standalone business.
At $2B and up, the listing would sit near the top of recent chip debuts. Arm raised $5B in 2023, Cerebras raised $5.55B in May and SK hynix collected more than $26B from its US listing in July.
