Intel Plans To IPO Programmable Chip Unit Within Three Years

An anonymous reader quotes a report from CNBC: Intel 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. Intel's Programmable Solutions Group will have its own balance sheet as it heads toward independence. The company will continue to support the business and retain a majority stake, and could also seek private investment. Sandra Rivera, who leads Intel's broader Data Center and AI group, will become PSG CEO. Intel will manufacture the group's chips. The move also highlights the strong demand in the semiconductor industry for field programmable gate arrays, or FPGAs. [...] FPGAs are simpler than the powerful processors at the heart of servers and PCs but are often more flexible, respond faster and can be more power-efficient. They're "programmed" after they're shipped for specific uses in data centers, telecommunications, video encoding, aviation and other industries. FPGAs can also be used to run some artificial intelligence algorithms. 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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