Intel (INTC) Plans To IPO Programmable Chip Unit, On Semi (ON) Short-Selling Increases

Intel (INTC) plans to IPO programmable chip unit within the next three years. The CEO notes that “our intention to establish PSG as a standalone business and pursue and IPO is how we are consistently unlocking more value for our stakeholders.” Jenny Horne discusses this as INTC will retain majority stake in PSG. She also talks about how Exane BNP Paribas downgraded On Semiconductor (ON) to neutral from outperform. Tune in to find to more about the stock market today.