Intel's Premarket Leap

Intel Corp. experienced a significant surge, climbing as much as 5% in premarket trade on Monday. This leap comes amidst reports suggesting the tech giant is on the verge of a pivotal deal.

The Altera Deal

According to media reports, Intel is nearing an agreement to sell chip manufacturer Altera Corp. to Silver Lake Technology Management L.L.C., with Altera valued at $9 billion. This marks a notable contrast to the $17 billion Intel paid to acquire Altera back in 2015.

Market Reaction

By 6:48 am ET, Intel's shares had jumped 4.81%, trading at $20.66. This movement underscores the market's keen interest in Intel's strategic decisions and their potential impact on the company's future.