Intel's Premarket Surge

Intel Corp. experienced a significant premarket surge, climbing as much as 5% on Monday. This jump comes in the wake of reports suggesting that Intel is close to finalizing a 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 risen by 4.81%, reaching $20.66. This movement highlights the market's positive reception to the potential deal, signaling investor optimism about Intel's strategic decisions.