Intel's Premarket Leap

Intel Corp. experienced a significant surge, climbing as much as 5% in premarket trading this Monday. This jump comes in the wake of reports suggesting the tech giant is on the verge of selling its chip manufacturer, Altera Corp., to Silver Lake Technology Management L.L.C.

The Deal Details

The potential deal values Altera at approximately $9 billion, a notable decrease from the $17 billion Intel paid to acquire it back in 2015. At 6:48 am ET, Intel's shares were up by 4.81%, trading at $20.66.

What This Means for Intel

This move could mark a significant shift in Intel's strategy, as the company looks to streamline its operations and focus on its core competencies. The sale of Altera to Silver Lake, if finalized, could free up resources for Intel to invest in other areas of its business.