INTC · 10-Q · 2026Q3 · Full report

Altera Divestiture

INTEL CORP · 2026-10-30 · Importance 20 · Surprise 24

Intel deconsolidated Altera effective September 12, 2025, after selling 51% of its issued and outstanding common stock. Altera's results were included in Intel's consolidated statements through September 11, 2025, affecting year-over-year revenue comparisons. Altera generated $126 million of revenue for Intel as an external customer in Q3 2026 and $446 million YTD, compared with $367 million and $1.1 billion, respectively, in the corresponding 2025 periods when its results were consolidated. The 2025 sale also generated a $5.5 billion pretax gain included in interest and other, net.

Key facts

• Intel signed an agreement on April 14, 2025, to sell Altera stock to an affiliate of SLP and completed the divestiture on September 12, 2025, for net purchase consideration of $4.3 billion. source
• Intel recognized a pre-tax gain of $5.5 billion on the Altera divestiture in Q3 2025. source
• Altera was deconsolidated from Intel's financial statements effective September 12, 2025, after the sale of 51% of its issued and outstanding common stock closed. source
• Intel's carrying value of its non-marketable equity investment in Altera was $3.1 billion at September 26, 2026, compared with $3.2 billion at December 27, 2025. source
• Intel received $4.8 billion in cash proceeds from the Altera sale in Q3 2025. source
• Intel received $4.3 billion in Q3 2025 cash proceeds from the Altera sale, net of cash sold and sale costs. source
• Most corporate transition services Intel provided to Altera under a transition services agreement ceased as of March 28, 2026. source
• Approximately $2.1 billion of Intel's gain on the Altera divestiture resulted from remeasuring its retained investment to fair value at closing. source