Abu Dhabi-backed artificial intelligence-focused investment firm MGX teamed with private equity investor Silver Lake Management to acquire a 51% stake in Intel’s programmable chip unit Altera, according to a report by Bloomberg.
Silver Lake purchased the stake for $3.3bn as part of Intel’s ongoing divestment of non-core assets under CEO Lip-Bu Tan, with Silver Lake revealing its involvement in the deal on Tuesday. Intel, which bought Altera in 2015 for $16.7bn, is seeking to streamline operations and bolster its turnaround plan.
Altera’s reprogrammable semiconductors are used in data centres, telecoms and industrial automation, with growing relevance in AI applications — a strategic focus for MGX, which has also backed OpenAI, xAI and large-scale data centre projects alongside BlackRock and Microsoft.
The deal extends MGX’s partnership with Silver Lake, following a joint investment earlier this year in UAE data centre operator Khazna.
