Altera Growing 20% Annually Ahead of Planned IPO

MT Newswires Live06:38

Altera, the programmable chipmaker spun out of Intel, is growing roughly 20% a year, and more than doubling operating income as it prepares for an eventual public listing, Reuters reported Friday, citing Chief Executive Raghib Hussain.

Hussain said the company grew more than 20% last year and expects mid-20% growth again this year, though as a private company it does not disclose specific figures, the report said.

The CEO said Altera is positioning for growth from artificial intelligence and robotics, with its field programmable gate array chips used for connectivity, data pre-processing, and sensor fusion alongside GPUs.

On execution, Hussain said the company produced working prototypes of six new chips last year and has cut its dependence on transition service agreements from Intel to 15 from 125, according to the report.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment