On Friday morning Eastern Time, intel (INTC) stock price fell lower, with reports that the company is seeking a large external investment for its Altera programmable chip manufacturing subsidiary.

On Thursday evening, there were reports that intel is seeking to sell a minority stake in its Altera subsidiary. intel values the company at approximately 17 billion dollars.

Intel acquired Altera in 2015 for 16.7 billion dollars, and in February of that year, it spun it off as an independent company, planning to split it through an initial public offering (IPO).

Intel did not immediately respond to media requests for comment.

Intel has been taking measures to support its financial situation by exploring selling off its various subsidiaries, but has not achieved any results. Year to date, Intel's market cap has shrunk by more than half.

The media pointed out that Intel has contacted several private equity institutions and strategic investors this week regarding the sale of the Altera subsidiary's equity. Media reports added that Intel has even discussed the possibility of these investors holding a majority stake in the company.