Intel is looking to sell at least a minority stake in its Altera unit in a transaction that would raise several billion dollars in cash for the struggling chipmaker, according to people familiar with the matter.

Intel is looking for a deal that values Altera at around $17 billion, said the people, who requested anonymity to speak freely about confidential information. Intel purchased Altera for $16.7 billion in 2015.

Following a steep drop in its stock price and extended stretch of market share losses, Intel has been looking to make drastic changes. The company made overtures to a number of private equity and strategic investors this week about Altera, the sources said. Intel has expressed to some of those investors that it would be possible to acquire a majority stake in the business.

A representative for Intel declined to comment. The sale process represents an abrupt change from Intel’s prior commentary on Altera. As recently last month, CEO Pat Gelsinger said that Intel’s leadership considered the business to be a core part of Intel’s future.

Intel has previously said it could look to monetize Altera business through an IPO, possibly as soon as 2026. But the idea of taking strategic or private equity investment would be a marked acceleration of those plans.

Gelsinger and his leadership team have previously said that Intel understands its disadvantaged position and is working aggressively to remedy it. Selling a stake in Altera might allow Intel to more easily pursue its semiconductor fabrication ambitions and assure investors that it has a future as an independent company.

But the sale process also comes as Qualcomm has expressed interest in acquiring its onetime rival, a deal that would face fierce regulatory scrutiny and potentially reshape the semiconductor industry.

Intel shares have dropped 50% this year, as the company has been trounced by Nvidia in artificial intelligence chips and has lost share to Advanced Micro Devices in its core PC and data center market.

WATCH: Biggest impediment to any acquisition of Intel is regulators

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Google is replacing Prabhakar Raghavan, the company’s search and ads boss, with longtime Google executive Nick Fox.

The move was announced by Alphabet and Google CEO Sundar Pichai, who said that Raghavan will be moving into the role of Google chief technologist after 12 years of leading teams across the search company. Raghavan will continue to report to Pichai in the new CTO role, the company told CNBC in a statement.

“Prabhakar has decided it’s time to make a big leap in his own career,” Pichai wrote in a company blog post. “In this role, he’ll partner closely with me and Google leads to provide technical direction and leadership and grow our culture of tech excellence.”

The move comes as Google continues to restructure its teams to move more quickly in the AI arms race as it faces increased competition. The company also finds itself facing several antitrust lawsuits related to its search and ads business.

Fox has long been a member of Raghavan’s leadership team. He will be leading Google’s Knowledge and Information division, which includes the company’s search, ads and commerce products, Pichai said.

A Google employee since 2003, Fox has been vice president for the product and design for the company’s Assistant product in recent years. He previously worked within the company’s ads business unit.

“Over the past few years, Nick has been instrumental in shaping Google’s AI product roadmap and collaborating closely with Prabhakar,” Pichai wrote.

Raghavan led the knowledge and information unit since 2018. Earlier this year, Raghavan told employees to prepare for a different market reality because “things are not like they were 15-20 years ago,” CNBC reported.

Additionally, Pichai announced that the team working on Google’s Gemini app, which includes Google’s AI direct-to-consumer products, will join Google DeepMind under Google’s AI head Demis Hassabis.

“Bringing the teams closer together will improve feedback loops, enable fast deployment of our new models in the Gemini app,” Pichai wrote.

The move also means the Assistant teams focused on devices and home experiences will move to the Platforms and Devices unit “so they can sit closer to the product surfaces they’re building for,” Pichai wrote.

WATCH: Google Cloud information security chief on safeguarding data & supply chains

Amazon said Thursday it plans to host an election night special anchored by Brian Williams, marking the company’s first foray into live news coverage.

The one-night special will provide election results and analysis on Prime Video starting at 5 p.m. ET on Nov. 5, the company said. Amazon emphasized it will be a “non-partisan presentation” pulling information from a variety of third-party news sources.

Williams will lead the special and interview analysts across the political spectrum. Viewers will not be required to have a Prime subscription to access the stream.

“After 41 years in the business — from local news to network shows to cable news — this feels like the next big thing,” Williams, who left NBC News in 2021 after a 28-year run, said in a release. “And the global marketplace of Amazon is a natural home for this first-of-its-kind venture.”

Amazon has been increasingly moving into live sports programming on its Prime Video streaming service as a way to boost subscriptions and drive additional revenue to its lucrative advertising business. In July, Amazon signed an 11-year rights deal to carry NBA games starting with the 2025-26 season. Amazon also streams “Thursday Night Football” games and has the rights to stream some NHL games.

Now the company is angling to position itself as a “growing home for news viewers.” It offers streaming news channels on Prime Video, including live content from ABC News Live, CNN Headlines, LiveNOW from FOX and NBC News Now.

Disclosure: NBC and CNBC are divisions of NBCUniversal.