{"id":12460,"date":"2025-03-12T23:09:09","date_gmt":"2025-03-12T23:09:09","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/intel-names-lip-bu-tan-as-new-ceo-amid-turnaround-efforts\/"},"modified":"2025-03-12T23:09:09","modified_gmt":"2025-03-12T23:09:09","slug":"intel-names-lip-bu-tan-as-new-ceo-amid-turnaround-efforts","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/intel-names-lip-bu-tan-as-new-ceo-amid-turnaround-efforts\/","title":{"rendered":"Intel Names Lip-Bu Tan as New CEO Amid Turnaround Efforts"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Intel, <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/10\/24\/technology\/intel-ai-chips-mistakes.html\" title=\"\">a fallen Silicon Valley icon<\/a> trying to restore its reputation as America\u2019s most prominent semiconductor company, has named Lip-Bu Tan, an experienced business and technology leader, as its new chief executive.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Tan, 65, will be responsible for reviving the fortunes of a chip-making company that has fallen from grace. Once one of the best-known names in technology, the semiconductor giant has been hobbled in recent years by its struggles to innovate and failure to claim a share of the market for chips used in smartphones and artificial intelligence.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Intel\u2019s problems became so pronounced that last year it <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/technology\/intel-ceo-pat-gelsinger.html\" title=\"\">ousted its chief executive<\/a>, Patrick Gelsinger, and <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/08\/01\/technology\/intel-layoffs-quarterly-report.html\" title=\"\">cut 15,000 jobs<\/a>. The company\u2019s share price has fallen 54 percent over the past year.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The company\u2019s woes have alarmed the U.S. government, where lawmakers have been trying to rebuild the chips industry after the pandemic created a global shortage that forced U.S. auto factories to shutter. Under the CHIPS Act, a bipartisan law, <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/11\/24\/business\/washington-curtails-intel-grant.html\" title=\"\">Intel was awarded $8.5 billion<\/a> in federal funding to build plants in Arizona, Ohio and New Mexico. But its business challenges have raised questions about its ability to complete those projects.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Earlier this year, the Trump administration began meeting with Intel\u2019s leadership about how to restore its business, one of the country\u2019s last in advanced semiconductor manufacturing. One proposal was to have its rival, Taiwan Semiconductor Manufacturing Company, the world\u2019s largest chipmaker, assume operations for Intel\u2019s ailing manufacturing business. Frank Yeary, Intel\u2019s chairman, was open to that idea, <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/02\/14\/technology\/intel-tsmc-talks-trump.html\" title=\"\">The New York Times has previously reported<\/a>.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Now, it will be up to Mr. Tan to direct Intel\u2019s future. The company is one of the last in the world that still both designs and manufactures semiconductors. Its <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/10\/24\/us\/politics\/intel-chips-biden.html\" title=\"\">former board members and others in the industry<\/a> have been calling for the company to split those businesses apart.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Investors reacted positively to Mr. Tan\u2019s appointment, causing Intel\u2019s stock price to jump more than 11 percent in aftermarket trading.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Tan has a long history as an investor in Silicon Valley, one of few who kept putting money into semiconductor and tech hardware start-ups when most other venture capitalists chose less risky investments in software and internet services. While running the venture capital firm Walden International, he served a lengthy stint as chief executive of Cadence Design Systems, one of the two dominant makers of software used in designing chips.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">He is widely credited with turning around that company, which now boasts a market value of more than $65 billion.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Mr. Tan retains an active role in many small and midsize tech hardware companies. He was named executive chairman last May of SambaNova Systems, a company competing with Nvidia, the world\u2019s dominant developer of artificial intelligence chips. He is also chairman of Credo Technology Group Holding, a maker of communications chips.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In recent years, Mr. Tan has faced criticism for his investments in Chinese artificial intelligence and semiconductor companies. A Congressional committee focusing on China <a class=\"css-yywogo\" href=\"https:\/\/selectcommitteeontheccp.house.gov\/sites\/evo-subsites\/selectcommitteeontheccp.house.gov\/files\/evo-media-document\/2023.07.18-letter-to-walden.pdf\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">wrote him a letter in 2023<\/a> requesting information about Walden International\u2019s investments in companies that are on a government blacklist because they have been labeled a risk to national security.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2025\/03\/12\/technology\/intel-new-ceo-tan.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Intel, a fallen Silicon Valley icon trying to restore its reputation as America\u2019s most prominent semiconductor company, has named Lip-Bu<\/p>\n","protected":false},"author":1,"featured_media":12461,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[202,213,770,123,2486,4051],"class_list":["post-12460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-appointments-and-executive-changes","tag-artificial-intelligence","tag-computer-chips","tag-computers-and-the-internet","tag-intel-corporation","tag-lip-bu-tan"],"yoast_head":"<!-- This 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