Trending: Intel Plans Spinoff of Unit
2023年10月5日 - 3:13AM
Dow Jones News
1331 ET -- Intel is one of the most mentioned companies in the
U.S. across all news items in the last 12 hours, according to
Factiva data. Wall Street analysts say Intel's plan to separate its
programmable chip business into a standalone company signals the
chipmaker needs cash to fund its revitalization initiative. Intel
stock rose on Wednesday. Intel said Tuesday it intends to operate
its Programmable Solutions Group as a standalone business starting
Jan. 1. The move will allow PSG to more effectively compete in the
market for field-programmable gate arrays, processors that can be
customized to suit the needs of the technology for which it is
being used. The separation will give PSG autonomy and flexibility
to accelerate its growth, Intel said. The move also will allow PSG
to seek private and public equity investments. Intel intends to
conduct an initial public offering for PSG. Dow Jones & Co.
owns Factiva. (matthew.walker@dowjones.com)
(END) Dow Jones Newswires
October 04, 2023 13:58 ET (17:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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