Intel expects to report PSG as an independent business unit when it releases its first-quarter earnings in 2024.
According to Intel official reports, independent operations of the Programmable Solutions Group (PSG) are expected to begin on January 1, 2024, with continued support from Intel.
Santa Clara, California, October 3 News Intel Corporation announced its intention to separate its Programmable Solutions Group (PSG) business into an independent business. The separation into an independent business will provide PSG with the autonomy and flexibility it needs to fully accelerate its growth and compete more effectively in the FPGA industry. At the same time, Intel also announced that Intel Executive Vice President Sandra Rivera will serve as PSG CEO, and Shannon Poulin has been appointed chief operating officer.
It is reported that PSG, with the continued support of Intel, is expected to begin independent operations on January 1, 2024. Intel expects to report PSG as an independent business unit when it releases its first-quarter 2024 financial results. Over the next two to three years, Intel intends to conduct an initial public offering for PSG and may explore opportunities with private investors to accelerate the growth of the business, while Intel will retain a majority stake. By then, the two companies will continue to maintain strategic cooperation, including PSG continuing to cooperate with Intel Foundry Services (IFS).
According to third-party forecasts, the FPGA market is expected to grow at a compound annual growth rate (CAGR) of more than 9%, from US$8 billion in revenue in 2023 to US$11.5 billion in 2027. During the second quarter 2023 earnings call, Intel emphasized that PSG achieved record revenue for the third consecutive quarter. The group has been delivering on its product roadmap, including the second quarter launch of Intel Agilex® 7 with R-Tile chips, bringing customers the first FPGA with PCIe 5.0 and CXL capabilities and the only FPGAs support the hard intellectual property (IP) of these interfaces.
On February 14, 2022, AMD announced the completion of its acquisition of Xilinx, which was incorporated as a wholly-owned subsidiary. When it was reported that AMD was going to acquire Xilinx, some people in the industry commented that Intel and Nvidia had a stronger competitor.
In December 2015, Intel completed the largest acquisition in the company's history - the acquisition of programmable logic device manufacturer Altera. Through this acquisition, Intel became the second largest programmable logic device manufacturer. But now, Intel will separate the PSG department, including the FPGA business, which may cause a new round of heated discussions.
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