Intel, a fallen Silicon Valley icon trying to restore its reputation as America’s most important semiconductor company, has called Lip-Bu Tan, an experienced leader of business and technology, as its new CEO.
Mr Tan, 65, will be responsible for rejuvenating the property of a chip construction company that has fallen from Grace. As soon as one of the best known names in technology, the Semiconductor giant has been hit in recent years by his struggles to innovate and fail to claim a market share of chips used in smartphones and artificial intelligence.
Intel’s problems became so intense that last year removed her chief executive, Patrick Gelsinger, and cut 15,000 jobs. The company’s share price has been reduced by 54 % in the past year.
The affairs of the company have worried the US government, where legislators are trying to rebuild the chip industry after the pandemic has created a global lack that forced us to close car factories. According to brands law, a bilateral law, Intel was awarded $ 8.5 billion to federal funding for plant manufacturing in Arizona, Ohio and New Mexico. But his business challenges raised questions about her ability to complete these projects.
This year, Trump’s administration began to meet Intel’s leadership on how to restore its business, one of the last in advanced semiconductor production. One proposal was to have an opponent, Taiwan Semiconductor Manufacturing Company, the world’s largest chipmaker, is taking over the business for Intel’s troubled production business. Frank Year, Intel’s president, was open to this idea, the New York Times said.
Now, it will depend on Mr Tan to direct Intel’s future. The company is one of the last in the world that is still designing and manufacturing semiconductors. Former members of the Board of Directors and others in the industry are asking the company to separate these businesses.
Investors responded positively to Mr Tan’s appointment, causing Intel’s shares to reach more than 11 % of post -purchase transactions.
Mr Tan has a long history as an investor in Silicon Valley, one of the few who continued to put money on newly established semiconductor and technology businesses when most other capital entrepreneurs have chosen less dangerous investments in software and internet services. During the business capital company Walden International, he served a long attitude as Managing Director of Cadence Design Systems, one of the two dominant software manufacturers used for chip design.
It is widely credited with the turn of this company, which now has a market value of more than $ 65 billion.
Mr Tan maintains an active role in many small and medium -sized technology companies. He was named Executive President last May of Sambanova Systems, a company competings with Nvidia, the dominant artificial intelligence programmer in the world. He is also president of Credo Technology Group Holding, manufacturer of communications chip.
In recent years, Mr Tan has criticized his investment in Chinese intelligence and semiconductor companies. A Congress Committee that focuses on China wrote a letter in 2023 requesting information on Walden International’s investment in companies in a blacklist because they have been jeopardized for national security.
