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Gabelli Equity Trust Inc shares rise 1.19% after-hours following Intel's stake sale in Altera.
ByAinvest
Monday, Apr 14, 2025 6:54 pm ET1min read
Gabelli Equity Trust Inc. rose 1.19% in after-hours trading, following Intel's announcement of selling a 51% stake in its Altera programmable chip business to Silver Lake for $4.46 billion. This deal, valued at $8.75 billion, is a significant move under Intel's new CEO Lip-Bu Tan to revive the struggling chipmaker. The sale will provide Intel with a cash boost, enabling it to cut costs and invest in becoming a contract manufacturer.
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