Altera has confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering, the company said. The filing does not yet specify the number of shares to be sold or an expected price range.
The semiconductor company makes programmable chips used in data centers, telecommunications equipment, industrial systems, artificial intelligence applications, and aerospace and defense products. Its filing comes as investors assess demand for hardware supporting AI workloads and as the technology IPO market enters a busier period.
Reuters previously reported that Altera was preparing an offering that could raise more than $2 billion, potentially making it one of the largest semiconductor listings since Arm Holdings went public in 2023. The timing and size remain subject to regulatory review and market conditions.
Intel acquired Altera for approximately $16.7 billion in 2015. Silver Lake later acquired a controlling stake, and Altera became a standalone company. A public listing would give the financial sponsors and Intel a potential market valuation for the business while providing capital for its next phase of growth.
