Intel announced that the Programmable Solutions Group will operate in an independent form
Intel recently announced its intent to operate the Programmable Solutions Group (PSG) as an independent entity, with Sandra Rivera, formerly Intel’s Executive Vice President and General Manager of Data Center and Artificial Intelligence, assuming the role of Chief Executive Officer.
Meanwhile, Sandra Rivera will continue her tenure as Intel’s General Manager of Data Center and Artificial Intelligence until a suitable successor is identified. Shannon Poulin, previously the General Manager of the Programmable Solutions Group, is set to serve as the Chief Operating Officer within this new independent structure.
This decision to segregate the Programmable Solutions Group aligns with Intel’s ongoing business restructuring efforts. Taking cues from the acquisition and integration of Mobileye into Intel’s framework, which subsequently became an independent entity and successfully went public in 2022, Intel anticipates similar investment opportunities. Once the Programmable Solutions Group operates independently, it is expected to pursue external investments in a comparable fashion.
Starting January 1, 2024, Intel plans to run the Programmable Solutions Group independently, while ensuring sustained resource allocation. In the financial results of the first quarter of 2024, the group’s financial status will be disclosed as a separate business entity. Furthermore, Intel aims to list the Programmable Solutions Group on the stock market within the next 2-3 years to capitalize on more investment opportunities, while retaining majority ownership.