Intel-backed Altera files confidentially for IPO

Altera, a programmable-chip maker backed by Silver Lake and Intel, has filed confidentially for an initial public offering. The company has not decided how many shares to sell or set a price range, according to an announcement Tuesday. Altera makes chips for artificial intelligence, industrial automation and robotics. Intel acquired the company in 2015 for about $16.7 billion, while Silver Lake bought a 51% stake last year.

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