DUBAI (Reuters) -MGX, an Abu Dhabi artificial intelligence investment firm and partner of Silver Lake, said on Tuesday it has joined the buyout group in acquiring a majority stake in California programmable chip business Altera, leaving Intel with a 49% holding.

The size of MGX’s investment was not disclosed.

“Altera provides a foundational platform for next generation computing. This is an opportunity to scale a company of such significance into a true global leader for the AI era,” said Omar Alismail, MGX chief investment officer, semiconductors and infrastructure.

In April, Intel agreed to sell 51% of Altera to Silver Lake, valuing the unit at $8.75 billion, well below the nearly $17 billion Intel paid in 2015. Intel completed the transaction on September 12, with Silver Lake acquiri

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