Altera files confidentially for U.S. IPO that could raise over $2 billion

Altera has confidentially filed for a U.S. initial public offering, moving the Intel- and Silver Lake-backed chipmaker closer to public markets. The company confirmed the filing Tuesday but did not disclose the number of shares or pricing terms. Earlier reporting indicated the IPO could raise more than $2 billion as soon as this year.

The San Jose-based company makes programmable chips for data centers, telecommunications, industrial equipment, artificial intelligence, aerospace and defense. Altera returned to independence last year after Silver Lake bought a 51% stake from Intel for $4.46 billion, valuing the business at $8.75 billion. Intel retained a 49% stake.

The filing arrives as investor demand for AI-related semiconductor companies supports a revival in U.S. IPO activity. Altera is positioning its chips as complementary to GPUs, including for networking and AI inference in data centers. The company has also targeted growth in AI and robotics. Investors will now watch for public offering terms, valuation and evidence of sustained demand before the listing.