Intel's Premarket Surge

Intel Corp. experienced a significant 5% surge in premarket trading on Monday. This jump comes amid reports that Intel is on the verge of selling its chip manufacturer, Altera Corp., to Silver Lake Technology Management L.L.C. for an estimated $9 billion.

The Deal Details

This potential sale marks a notable moment for Intel, which had acquired Altera in 2015 for nearly $17 billion. The deal's valuation at $9 billion reflects a substantial decrease from the purchase price, sparking discussions among investors and analysts alike.

By 6:48 am ET, Intel's shares had climbed 4.81%, reaching $20.66, showcasing the market's immediate reaction to the news.