Intel trims full-year expense outlook following Altera stake sale

(Reuters) - Intel said on Monday it has lowered its full-year 2025 adjusted operating expense target to $16.8 billion, from $17 billion earlier, to reflect the deconsolidation of its programmable chip business, Altera. The struggling chipmaker agreed in April to sell a 51% stake in Altera to private equity firm Silver Lake, valuing the unit at just $8.75 billion, a sharp decline from the nearly $17 billion Intel paid to acquire it in 2015. Intel is streamlining under CEO Lip-Bu Tan to bolster cash. The c ...