Altera Said to Prepare IPO That Could Raise Over $2 Billion

Silver Lake and Intel-backed Altera is preparing for an initial public offering, according to people familiar with the matter, in a move that could bring the semiconductor company to public markets. The offering could raise more than $2 billion, the sources said.

The listing is being considered for as early as 2026, though IPO plans can shift with market conditions, investor demand and regulatory reviews. A deal of that size would make it one of the more closely watched technology listings in its window. The sources spoke on condition of anonymity because the preparations remain private.

Altera's ties to Intel and Silver Lake give the potential offering a notable profile. Intel's backing connects the business to the broader chip sector, while Silver Lake brings private equity experience. Investors are likely to weigh demand for semiconductor assets against wider equity market volatility.

Neither Altera nor Silver Lake has publicly confirmed the plans. Details including the number of shares, valuation and final timing have not been disclosed. If completed, the IPO would test public market appetite for a large technology issuance and could shape expectations for other chip-related listings.