By Katherine Hamilton
Intel has amended a foundry agreement as part of its plan to sell its Altera subsidiary to Silver Lake.
Chipmaker Intel said Thursday it would produce 65,000 wafers in the U.S. under the amended agreement. Altera has agreed to purchase those wafers by 2040 according to an offtake schedule.
The agreement is set to be in effect through 2040 unless terminated by either party.
If Intel discontinues manufacturing of the wafers before the start of 2031, it will compensate Altera with a cash payment of $2.25 billion, per the agreement. Intel has also agreed to reimburse Altera if the wafers don't meet specifications.
Intel on Monday said it had agreed to sell a majority interest in Altera to Silver Lake affiliate SLP VII Gryphon Aggregator for $8.75 billion.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 17, 2025 17:09 ET (21:09 GMT)
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