shares moved higher in pre-market trading following the chipmaker's move to spin-out a key division, with plans for a near-term IPO, as the group continues to streamline its business.
Intel said the group, which it purchased from Altera in 2015 for around $17 billion, will be run by Intel insider Sandra Rivera. “Sandra has proven herself by reinvigorating DCAI, placing it on a path for success," he added."I am confident she will bring PSG that same dedication, energy and customer commitment.”
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