Intel is looking for a deal that values Altera at around $17 billion, said the people, who requested anonymity to speak freely about confidential information.
Following a steep drop in its stock price and extended stretch of market share losses, Intel has been looking to make drastic changes.
The company made overtures to a number of private equity and strategic investors this week about Altera, the sources said.
Intel has expressed to some of those investors that it would be possible to acquire a majority stake in the business.
Intel has previously said it could look to monetize Altera business through an IPO, possibly as soon as 2026.
Persons:
Pat Gelsinger, Gelsinger
Organizations:
Intel Corporation, Senate Commerce, Science, Innovation, Russell, Intel, Qualcomm, Nvidia, Devices