Intel announced on Monday that it has lowered its full-year 2025 adjusted operating expense target from $17 billion to $16.8 billion. This reduction reflects the deconsolidation of its programmable chip business, Altera, following the sale of a majority stake.
In April, Intel agreed to sell a 51% stake in Altera to private equity firm Silver Lake. The deal, which valued the unit at just $8.75 billion, a sharp decrease from the nearly $17 billion Intel paid in 2015, was completed on September 12. As a result, Altera’s financials are no longer fully included in Intel’s consolidated results.
Under the leadership of CEO Lip-Bu Tan, Intel is streamlining its operations to improve its financial position. The company has made several major changes this year, including management reshuffles and the U.S. government taking a 10% equity stake by converting grants into shares.
Despite the change to its 2025 forecast, Intel’s full-year 2026 operating expense target of $16 billion remains unchanged.
