At a recent investor update, Intel (NASDAQ: INTC) CEO Pat Gelsinger announced that the company's "Programmable Solutions Group" (PSG) will operate as a stand-alone semi-autonomous chip business.  

This is a bit confusing. Intel used to report PSG-specific segment revenue through 2021, but stopped doing so in 2022. Now the company wants to ready its PSG unit for an IPO to sell to investors within the next few years. Here's what investors need to know about Intel PSG.

Intel PSG deals with FGPAs, or field programmable gate arrays. These chips are designed so that they can be reprogrammed "in the field," or once put into operation, giving engineers the ability to overhaul the functionality or completely repurpose the FPGA once it's installed in a computing system. 

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Source Fool.com