Intel, a fallen Silicon Valley icon trying to restore his reputation as the most prominent semiconductor company in America, has appointed LIP-BU TAN, an experienced company and technology leader, as his new Chief Executive.
Mr. Tan, 65, will be responsible for breathing in the fortunes of a chip-making company that fell from Grace. As soon as one of the best known names in technology, the semiconductor giant has been hoped in recent years by its struggles to innovate and not claiming part of the market for chips used in smartphones and artificial intelligence.
The problems of Intel were pronounced in such a way that last year it drove his Chief Executive, Patrick Gelsinger, drove and 15,000 jobs. The company's share price has fallen by 54 percent in the past year.
The misery of the company has alerted the US government, where legislators have tried to rebuild the chips industry after the pandemic had created a worldwide shortage that US car factories forced to close. According to the Chips Act, a two -part law, Intel received $ 8.5 billion in federal financing to build plants in Arizona, Ohio and New Mexico. But the business challenges have asked questions about the ability to complete those projects.
This year the Trump administration began to meet the leadership of Intel about how to restore its activities, one of the last of the country in advanced semiconductor production. One proposal was to have a rival, Taiwan Semiconductor Manufacturing Company, the world's largest chip maker, assumes the activities for Intel's ailing production company. Frank Yeary, chairman of Intel, was open to that idea, reported the New York Times.
Now it is up to Mr Tan to lead the future of Intel. The company is one of the last in the world that still designs and manufactures semiconductors. The former board members and others in the industry have called on the company to split those companies apart.
Investors responded positively to Mr Tan's appointment, so that the share price of Intel jumps more than 11 percent in the aftermarket trading.
Mr. Tan has a long history as an investor in Silicon Valley, one of the few who continued to put money in semiconductor and technical hardware start-ups when most other risk capitalists chose less risky investments in software and internet services. While running the risk capital company Walden International, he served a long stint as a chief executive of Cadans Design Systems, one of the two dominant makers of software used in designing chips.
It is generally credited for turning that company, which now has a market value of more than $ 65 billion.
Mr. Tan retains an active role in many small and medium -sized technical hardware companies. He was named executive chairman of Sambanova Systems last May, a company that competed with Nvidia, the world's dominant developer of artificial intelligence chips. He is also chairman of Credo Technology Group Holding, a creator of communication chips.
In recent years, Mr Tan has had to deal with criticism of his investments in Chinese artificial intelligence and semiconductor companies. In 2023, a conference committee that focuses on China wrote a letter to him about information about the investments of Walden International in companies that are blacklisted because they have labeled a risk for national security.
