Intel Trims 2025 Expense Outlook After Altera Stake Sale To Silver Lake

The partial divestiture of Altera shifts majority ownership to private equity firm Silver Lake.

Intel Corporation. (INTC) has adjusted its fiscal 2025 adjusted operating expense forecast downward, from $17 billion to $16.8 billion in response to the deconsolidation of its Altera unit.

The partial divestiture of the unit shifts majority ownership to private equity firm Silver Lake. The deal, which was announced earlier in 2025, officially closed on Sept. 12, 2025.

Intel stock inched 0.4% higher in Monday’s premarket. On Stocktwits, retail sentiment around the stock remained in ‘extremely bearish’ territory amid ‘extremely low’ message volume levels. Under the terms of the agreement, Silver Lake has acquired a 51% stake in Altera for an estimated equity valuation of $3.3 billion, resulting in Intel retaining a 49% minority share.

The two entities have since rolled their respective stakes into a newly created limited partnership. Altera, known for its programmable logic devices, will now operate more independently, though Intel retains a significant interest and influence through the partnership.

In the first half of 2025, Altera generated $816 million in revenue and recorded a gross margin of 55%, alongside $356 million in operating expenses. Intel will begin reporting its remaining investment in Altera using the equity method starting in third-quarter (Q3) 2025. Only financial results through September 11, will be consolidated in Intel’s Q3 earnings. 

This shift comes as part of a broader reorganization strategy at Intel, aiming to shed non-core assets and tighten operational focus. Recently, the U.S. government, led by President Donald Trump, converted $11 billion of Intel’s grants into an equity stake of about 9.9%. 

Intel stock has gained over 20% in 2025 and 15% in the last 12 months. 

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