12:31 PM EDT, 10/18/2024 (MT Newswires) -- (Update with Intel's ( INTC ) response in the third paragraph.)

Intel ( INTC ) is looking to sell at least a minority stake in its Altera unit for billions of dollars in cash, CNBC reported late Thursday, citing people familiar with the matter.

Intel ( INTC ) is seeking a deal that would value Altera at about $17 billion after having purchased the company for $16.7 billion in 2015, the people reportedly told CNBC.

Intel ( INTC ) declined to comment to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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