Intel's Premarket Surge

Intel Corp. experienced a significant 5% surge in premarket trading this Monday, following reports of a potential deal to sell its chip manufacturer, Altera Corp., to Silver Lake Technology Management L.L.C. for an estimated $9 billion.

The Deal Details

This valuation marks a notable decrease from the $17 billion Intel paid to acquire Altera back in 2015. The news has sparked considerable interest among investors and industry watchers alike.

Market Reaction

By 6:48 am ET, Intel's shares had climbed 4.81%, reaching $20.66, showcasing the market's positive reception to the rumored deal.