Intel has finalized an agreement to sell a 51% stake in its Altera semiconductor division to private equity firm Silver Lake for $8.75 billion. This move is aimed at enhancing Intel's focus and financial structure while allowing Altera to operate independently under new CEO Raghib Hussain. The FPGA market is projected to grow significantly, with Altera generating $1.54 billion in revenue for fiscal year 2024. The transaction is expected to close in late 2025, contingent on standard closing conditions.