In the late 2000s, when the PC industry was showing signs of slowing down, the iPhone erupted onto the mobile scene and reinvented the smartphone industry altogether. And the smartphone became a key driver for the semiconductor industry at a time of lumbering PC market growth. The smartphone party went on for nearly a decade before it also began showing signs of a slowdown. Then one day, Intel announced that it was buying the FPGA powerhouse Altera. On December 28, 2015, almost everybody had been wondering about why Intel acquired Altera.
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