Intel's Premarket Surge Following Altera Deal Reports

Intel Corp. experienced a significant premarket surge, jumping as much as 5%, following reports that the company is nearing a deal to sell Altera Corp. to Silver Lake Technology Management L.L.C. for an estimated $9 billion. This valuation marks a notable decrease from the nearly $17 billion Intel paid to acquire Altera in 2015.

Market Reaction: By 6:48 am ET, Intel's shares had climbed 4.81%, trading at $20.66, reflecting investor optimism about the potential deal.