Intel's Premarket Surge

Intel Corp. experienced a significant surge, jumping as much as 5% in premarket trading on Monday. This leap comes amidst reports that the tech giant is nearing a deal to sell its chip manufacturer Altera Corp. to Silver Lake Technology Management L.L.C., with Altera being valued at approximately $9 billion.

The Deal's Background

This potential sale marks a notable moment for Intel, which had acquired Altera in 2015 for nearly $17 billion. The deal under discussion represents a significant valuation drop from the original purchase price, highlighting the dynamic nature of the tech and chip manufacturing industries.

Market Reaction

By 6:48 am ET, Intel's shares had climbed 4.81%, reaching $20.66. This premarket activity suggests a strong investor interest in the deal's implications for Intel's future strategy and financial health.