Altera Plans IPO 11 Years After Acquisition: FPGA Giant Returns to Public Market

Sep 28, 2026

FPGA giant Altera has **confidentially submitted IPO registration documents to the U.S. Securities and Exchange Commission, preparing to relist on the U.S. public market.**

Altera CEO Raghib Hussain previously projected the company to deliver mid-20% revenue growth in 2026.

The total number of shares to issue and IPO price range remain undisclosed for now.

Citing people familiar with the matter, Reuters reported that **Altera may raise more than $2 billion in this IPO, which could rank among the largest semiconductor IPOs in recent years.**

Before its acquisition, Altera and Xilinx were the two most representative players in the global FPGA market. Interestingly, both FPGA leaders were later acquired.

Altera’s timing for the IPO is largely fueled by the booming AI infrastructure market.

FPGAs allow hardware logic reconfiguration for different workloads. Deployed alongside GPUs in AI servers, they handle networking, data preprocessing and partial AI inference tasks.

Altera is prioritizing AI, robotics and other verticals as its new growth drivers.

**In 2015, Intel acquired Altera for $16.7 billion. Intel aimed to combine its CPUs with Altera FPGAs to expand footprint in data center, communications and embedded markets.**

**Years later, Altera’s biggest rival Xilinx followed a similar path. AMD announced the acquisition of Xilinx in 2020 and closed the deal in 2022.**

According to AMD’s final disclosure, the total consideration for the Xilinx acquisition stood at roughly $48.8 billion.

After acquiring Xilinx, AMD added FPGA and adaptive computing products to complete its product portfolio alongside CPUs and GPUs.

But Intel later spun out Altera.

In 2025, Intel sold a 51% majority stake in Altera to private equity firm Silver Lake in a transaction valued at about $4.46 billion, valuing Altera at approximately $8.75 billion.

**After the deal, Silver Lake holds 51% ownership of Altera while Intel retains the remaining 49%. Altera has become an independently operated FPGA company again.**

Now roughly one year after regaining independence, Altera is ready to go public again.