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Intel plans to spin off FPGA group as an independent company nine years after buying Altera

On October 3, CEO Pat Gelsinger announced Intel’s plan to spin out the company’s Programmable Solutions Group (PSG) – the group that was once known as independent FPGA maker Altera – into an independently operated company. Gelsinger’s explanation for why Intel is spinning PSG back out into an independent company is that he’s unlocking shareholder…
Eejournal Kevin Morris Robert Bielby Shannon Poulin Pat Gelsinger Sandra Rivera Gordon Moore

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Intel to Make Altera Unit Into Standalone Business, Seek IPO

(Bloomberg) -- Intel Corp. plans to turn its programmable chip division into a standalone business and sell shares to the public or seek an investor for it, part of Chief Executive Officer Pat Gelsinger’s efforts to wring more value from the semiconductor company.Most Read from BloombergKey Taiwan Tech Firms Helping Huawei With China Chip PlantsWhy a US Recession Is Still Likely — and Coming SoonWall Street Fear Gauge Ratchets Up After Jobs Data: Markets WrapKevin McCarthy Ousted a...
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