Intel Completes Asset Acquisition

TL;DR

INTC closed a deal, more details in the filing.

AI Summary

On September 12, 2025, Intel Corporation (INTC) announced the completion of its acquisition of an unspecified asset. The filing, submitted on September 15, 2025, details the completion of this transaction under Item 2.01. Financial statements and exhibits related to this event are also included.

Why It Matters

This filing indicates Intel has successfully integrated a new asset, which could impact its product offerings, market position, or future growth strategies in the semiconductor industry.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks related to integration, valuation, and market reception, which could affect Intel's financial performance.

Key Players & Entities

• INTEL CORP (company) — Registrant
• September 12, 2025 (date) — Date of earliest event reported
• September 15, 2025 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• 94-1672743 (identifier) — IRS Employer Identification No.
• 2200 Mission College Boulevard (address) — Principal executive offices
• Santa Clara (location) — City of principal executive offices
• California (location) — State of principal executive offices
• 95054-1549 (zip_code) — Zip code of principal executive offices
• (408) 765-8080 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value INTC Nasdaq Global Select Mar
• $3.3 b — ra for an equity value of approximately $3.3 billion, with Intel retaining the remaini
• $816 m — luded gross margin of 55% on revenue of $816 million, with operating expenses of $356
• $356 million — 816 million, with operating expenses of $356 million. Intel has revised its full-year 2025 n
• $16.8 billion — 25 non-GAAP operating expense target to $16.8 billion (from $17 billion) to reflect the decon
• $17 billion — g expense target to $16.8 billion (from $17 billion) to reflect the deconsolidation of Alte
• $16 billion — l-year 2026 operating expense target of $16 billion remains unchanged. Non-GAAP Financial

Filing Documents

• intc-20250912.htm (8-K) — 65KB
• intc-20250912_g1.jpg (GRAPHIC) — 5KB
• 0000050863-25-000153.txt ( ) — 197KB
• intc-20250912.xsd (EX-101.SCH) — 2KB
• intc-20250912_lab.xml (EX-101.LAB) — 21KB
• intc-20250912_pre.xml (EX-101.PRE) — 12KB
• intc-20250912_htm.xml (XML) — 3KB

01 Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets. As previously disclosed, on April 14, 2025, Intel Corporation ("Intel"), Intel Americas, Inc. ("Intel Americas" and together with Intel, the "Sellers"), Altera Corporation, at the time a wholly owned subsidiary of Intel ("Altera"), and an affiliate of Silver Lake ("Purchaser"), entered into a transaction agreement (as amended, supplemented or otherwise modified from time to time, the "Transaction Agreement"), pursuant to which Intel would sell a majority interest in its Altera business to the Purchaser (the "Transaction"). Following the satisfaction of the closing conditions of the Transaction Agreement, the closing of the Transaction was consummated on September 12, 2025, at which time: (i) the Purchaser acquired 51% of the equity interests of Altera for an equity value of approximately $3.3 billion, with Intel retaining the remaining 49% interest; (ii) each of Intel and the Purchaser contributed such equity interests in Altera to a newly formed limited partnership (the "Partnership"); and (iii) Intel and the Purchaser entered into an amended and restated limited partnership agreement (the "LPA") in substantially the same form as previously described in Intel's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on April 17, 2025 and filed with Intel's Quarterly Report on Form 10-Q for the quarterly period ended June 28, 2025 filed with the SEC on July 24, 2025. The LPA sets forth each party's rights and responsibilities with respect to the Partnership and respective interests in the Partnership.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Intel's consolidated financial statements for Q3 2025 will reflect Altera's results from June 29, 2025 through September 11, 2025. Intel will account for its minority investment in Altera under the equity method of accounting upon the closing of the Transaction on September 12, 2025. Altera's results as a segment of Intel in the first half of 2025 included gross margin of 55% on revenue of $816 million, with operating expenses of $356 million. Intel has revised its full-year 2025 non-GAAP operating expense target to $16.8 billion (from $17 billion) to reflect the deconsolidation of Altera. Intel's full-year 2026 operating expense target of $16 billion remains unchanged. Non-GAAP Financial Measures In addition to disclosing financial results in accordance with US GAAP, this document references targets for non-GAAP operating expenses. Non-GAAP operating expenses refers to non-GAAP R&D and marketing, general and administrative (MG&A). We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance, enable comparison of financial trends and results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance. Set forth below are reconciliations of non-GAAP operating expenses to the most directly comparable US GAAP financial measure, GAAP operating expenses. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations should be carefully evaluated. (In Billions; Unaudited) Full-Year 2025 Full-Year 2026 Approximately Approximately GAAP operating expenses $ 21.9 $ 19.0 Acquisition-related adjustments (0.1) (0.1) Share-based compensation (2.5) (2.9) Restructuring and other charges (2.5

Forward-Looking Statements

Forward-Looking Statements This report contains forward-looking statements as to Intel's expectations regarding its non-GAAP operating expenses in future periods. Such statements involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied, including those associated with: the high level of competition and rapid technological change in our industry; the significant long-term and inherently risky investments we are making in R&D and manufacturing facilities that may not realize a favorable return; the complexities and uncertainties in developing and implementing new semiconductor products and manufacturing process technologies; our ability to time and scale our capital investments appropriately and successfully secure favorable alternative financing arrangements and government grants; implementing new business strategies and investing in new businesses and technologies; changes in demand for our products; macroeconomic conditions and geopolitical tensions and conflicts, including geopolitical and trade tensions between the US and China, the impacts of Russia's war on Ukraine, tensions and conflict affecting Israel and the Middle East, and rising tensions between mainland China and Taiwan; the evolving market for products with AI capabilities; our complex global supply chain supporting our manufacturing facilities and incorporating external foundries, including from disruptions, delays, trade tensions and conflicts, or shortages; recently elevated geopolitical tensions, volatility and uncertainty with respect to international trade policies, including tariffs and export controls, impacting our business, the markets in which we compete and the world economy; product defects, errata and other product issues, particularly as we develop next-generation products and implement next-generation manufacturing process technologies; potential security vulnerabilities in our products; increasing and

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are provided as part of this report: Exhibit Number Description 104 Cover Page Interactive Data File, formatted in Inline XBRL and included as Exhibit 101.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTEL CORPORATION (Registrant) Date: September 15, 2025 By: /s/ April Miller Boise April Miller Boise Executive Vice President and Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR