Intel rises on sale of majority stake in Altera to Silver Lake

Shares of chipmaker Intel INTC.O up 4.1% premarket to $20.56 after announcing Altera stake sale to PE firm Silver Lake

INTC says to sell 51% stake, valuing programmable chip unit at $8.75 bln

Co bought Altera for nearly $17 bln in 2015, and has taken steps since last year to spin it out

In Feb, Silver Lake was reported to be in exclusive talks to purchase a majority stake in Altera in about $9 bln deal

Through Fri close, INTC shares have lost roughly half their value over the past one year

Meanwhile, shares of rivals Nvidia NVDA.O and Advanced Micro Devices AMD.O rising premarket after the Trump administration granted exclusions from steep tariffs on imported semiconductor chips