The US tech giant is seeking a deal that values the programmable chip unit at around $17 billion.

Intel is looking for an investor to acquire a stake in its Altera subsidiary, CNBC reported. The US tech giant is seeking a deal that values the programmable chip unit at around $17 billion. Intel is facing challenges in its business at a time when the US is seeking to revitalize its chip industry.

Intel reportedly seeks to sell a minority stake in its Altera unit, aiming to raise billions in cash as the company struggles with market share losses and stock declines. Intel is looking for a deal that values Altera at around $17 billion,