Sandra Rivera, CEO of Intel's subsidiary Altera, has put to rest recent rumors regarding the potential sale of Altera by Intel in an interview. Rivera emphasized that Intel remains committed to its original plan to facilitate Altera's IPO by 2026 and to sell a portion of its shares in the process.

Intel acquired Altera, an FPGA company, for $16.7 billion in 2015 and operated it under the Programmable Solutions Group (PSG). On October 3, 2023, Intel announced the spin-off of the PSG division into an independently operated entity, with an IPO target set for 2 to 3 years later. At that time, Rivera took the helm of the PSG division.

On February 29, 2024, Intel officially launched the independent FPGA company, reinstating the original brand name Altera. In her interview, Rivera noted that while Altera has been operating independently since the beginning of the year, it still maintains certain ties with its parent company, Intel. She stated that Altera's process of detachment from Intel is proceeding faster than expected, with a goal to finalize the separation by January 1, 2025.

Rivera further highlighted that Altera is focused on a broad range of FPGA businesses from cloud to edge, aiming to become a leader in the FPGA industry. Achieving an IPO is a significant milestone in this journey. With Altera's main competitor, Xilinx, now acquired by AMD, and other FPGA companies focusing mainly on low-end or niche markets, Altera is facing significant market opportunities. Rivera believes that offering a diverse range of services is key to maintaining Altera's competitive edge.

Additionally, Altera is strengthening its channel expansion, with 80% of its sales volume and over 50% of demand currently being fulfilled through channel partners. This indicates that post-independence, Altera is actively building and optimizing its sales network to meet market demands and challenges.