Intel to spin off programmable solutions business into separate company
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5 Intel analysts discuss plans to separate PSG operations into a standalone business
October 4, 2023 6:54 AM EDTIntel's (NASDAQ: INTC) decision to turn its programmable chip division into a standalone business and potentially go public or seek investment has caused its shares to move higher.
Intel stock was up 2% in early New York trading Wednesday.
This strategic move is aimed at accelerating the group's strategic repositioning. It follows Intel's recent actions, such as the IPO of Mobileye and private investments by Bain Capital Special Situations and TSMC into its IMS Nanofabrication subsidiary.
Intel's plans are likely to take effect on January 1, 2024, while the company anticipates reporting PSG as a... More
