Altera, a chipmaker specializing in programmable semiconductors, has confidentially filed for an initial public offering (IPO) in the United States, the company announced Tuesday. Backed by Silver Lake and Intel, the San Jose, California-based firm aims to capitalize on growing investor interest in artificial intelligence-related technologies.

The company produces chips utilized across a range of sectors, including data centers, telecommunications, industrial equipment, aerospace, defense, and AI applications. The filing marks Altera as the latest semiconductor company positioning itself to benefit from the expanding demand for advanced processing solutions.

According to previous reports citing unidentified sources, Altera is preparing for an IPO that could raise over $2 billion as early as this year. If realized, this fundraising would rank among the largest public offerings in the semiconductor industry in recent times. For comparison, Arm Holdings raised $5 billion in its 2023 listing, while Cerebras secured $5.55 billion in May. Additionally, South Korea’s SK Hynix generated more than $26 billion from its U.S. listing in July.

The confidential nature of the filing means specific details about the offering, including the number of shares, price range, and exact timing, have not yet been made public. The move reflects ongoing investor appetite for companies involved in AI infrastructure, a sector that is attracting significant capital amid increasing demand for data processing capabilities.

Altera’s IPO will be closely watched as a barometer of market interest in semiconductor firms focused on programmable chip technology, critical for a variety of emerging digital and industrial applications.