Intel is to spin off Altera or PSG (Programmable Solutions Group) as Intel calls it – into a separate unit as from January 1st.
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‘Over the next two to three years, Intel intends to conduct an IPO for PSG and may explore opportunities with private investors to accelerate the business’s growth, with Intel retaining a majority stake,’ says Intel.
Intel quotes ‘third-party estimates’ saying the FPGA market is expected to grow at a CAGR of more than 9%, from $8 billion in revenues in 2023 to $11.5 billion by 2027.
Intel bought Altera in 2015. The last time it reported Altera’s financial results separately – in 2019 – Altera had annual revenue of $1.99 billion.