Intel this afternoon has announced that the company will be spinning off its programmable solutions group (PSG), to operate as a standalone business. The business unit, responsible for developing Intel’s Agilex, Stratix, and other FPGA products, will become a standalone entity under Intel’s corporate umbrella starting in Q1 of 2024, with the long-term goal of eventually selling off part of the group in an IPO in two to three years’ time.
The reorganization announced today will see Intel’s PSG transition to operating as a standalone business unit at the start of 2024, with Intel EVP Sandra Rivera heading up PSG as its new CEO. Rivera is currently the general manager of Intel’s Data Center and AI Group (DCAI), which is where PSG is currently housed, so she has significant familiarity with the group. In the interim, Rivera will also continue serving in her role in DCAI until Intel can find a replacement, with the company looking for candidates both externally and internally.
