Intel's Premarket Surge

Intel Corp. experienced a significant premarket surge, climbing as much as 5% following reports of a potential deal to sell its chip manufacturer, Altera Corp., to Silver Lake Technology Management L.L.C. The speculated deal values Altera at approximately $9 billion, a notable decrease from the $17 billion Intel paid to acquire it in 2015.

Market Reaction

By 6:48 am ET, Intel's shares had jumped 4.81%, trading at $20.66. This movement highlights the market's positive reception to the rumors of the Altera sale, signaling investor optimism about Intel's strategic decisions.