Intel said it will continue to support its programmable chip business and will retain a majority stake after a spinout
Intel said it will treat its Programmable Solutions Group as a standalone business, with the goal of conducting an IPO for the unit in the next two to three years.
Intel will continue support the business and will retain a majority stake, the company said.Pat Gelsinger, CEO, of Intel Corporation, testifies during the Senate Commerce, Science, and Transportation hearing on semiconductors titled Developing Next Generation Technology for Innovation, in Russell Senate Office Building on Wednesday, March 23, 2022.said it will treat its programmable chip unit as as a standalone business, with an aim to spin it out through an IPO in the next two to three years.
Sandra Rivera, who leads Intel's broader Data Center and AI group, will become PSG CEO. Intel will manufacture the group's chips.
Intel's FPGAs are sold under the Agilex brand. Intel doesn't break out PSG sales yet, but said in July that the unit had three record quarters in a row, offsetting a slump in server chip sales. PSG has been part of Intel's Data Center and AI group, which generated $4 billion in sales in the second quarter.
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