Intel Corp. INTC is reportedly considering selling a minority stake in its Altera unit to raise several billion dollars.

What Happened: Intel is looking to sell a minority stake in its Altera unit, which it acquired for $16.7 billion in 2015, reported CNBC, citing people familiar with the matter. The deal is expected to value Altera at around $17 billion.

Intel has been experiencing a significant drop in its stock price and a prolonged period of market share losses. The company has been reaching out to private equity and strategic investors to discuss the potential sale of a majority stake in the Altera business.

Intel’s CEO, Pat Gelsinger, had previously emphasized the importance of the Altera business to Intel’s future. However, the company is now considering selling a stake in Altera to fund its semiconductor fabrication ambitions and reassure investors of its future as an independent company.

See Also: As Boeing Workers Enter Second Month Of Strike, Rival Airbus Reportedly Plans To Cut 2,500 Jobs

Intel shares have plummeted by 50% this year, largely due to losing ground to NVIDIA Corp NVDA in AI chips and Advanced Micro Devices, Inc. AMD in the PC and data center market.

Intel did not immediately respond to Benzinga‘s request for comment.

Why It Matters: The potential sale of a stake in the Altera business comes at a time when Intel is facing significant challenges in the market. The company is also under scrutiny in China, where the Cybersecurity Association of China has called for a security review of Intel’s products, citing potential threats to national security amid escalating trade tensions with the U.S.

Intel has been taking steps to counter its market challenges, including partnering with Advanced Micro Devices to create an x86 Ecosystem Advisory Group.

Meanwhile, Intel’s stock has been struggling, down over 53% year-to-date, with its market cap dropping below $100 billion for the first time in over a decade. In contrast, Oracle Corp ORCL has been making significant strides in the AI and cloud space.

Price Action: Intel’s stock closed at $22.44 on Thursday, up 0.58% for the day. In after-hours trading, the stock rose 0.18%. Year to date, Intel shares have declined 53.05%, according to data from Benzinga Pro.

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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote