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Intel to Make Former Altera Into Standalone Business, Seek IPO

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Intel Corp. plans to turn its programmable chip division into a standalone business and either sell shares to the public or seek an investor for it.

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Intel's Programmable Solutions Group to operate as a standalone businessIntel (INTC) announced that its Programmable Solutions Group will operate as a standalone business starting on January 1, 2024. The company says it will look to explore an IPO for the business and that it 'may explore opportunities with private investors,' with Intel retaining a majority stake. Sandra Rivera has been named CEO of the business. Yahoo Finance Live breaks down the announcement. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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