Abu Dhabi’s MGX Joins Silver Lake in Deal for Intel’s Altera

MGX, an Abu Dhabi-backed investment company focused on artificial intelligence, joined private equity firm Silver Lake Management LLC in a 51% acquisition of Intel Corp.’s Altera, which makes programmable chips.

MGX announced its involvement Tuesday in the transaction, which was completed earlier this week. Altera’s products — semiconductors that can be reprogrammed after they leave the factory — are designed for a range of uses, including industrial robots, data centers and telecommunications.

The AI applications are of particular interest to MGX, which has already backed startups such as OpenAI and xAI. It also teamed up with BlackRock Inc. and ...