Intel Corporation has named its FPGA group Altera. Intel invested $16.7 billion to acquire Altera. Altera targets the ASIC and GPU chip market as the artificial intelligence hardware market continues to grow.

Altera has officially been renamed to the Field Programmable Gate Array (FPGA) Group, revitalizing the FPGA market by offering programmable solutions. Intel announced last October that the programmable solutions group would operate independently. Altera fills a market niche in the AI era with an estimated programmable chip market size of $8-10 billion.