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Semiconductor veteran Lip-Bu Tan exits Intel's board
Economic Times
·
11m ago
Medial
Intel's director Lip-Bu Tan has resigned from the company's board, according to a filing by the chipmaker. Tan, who joined the board in 2022, made the decision to step down to reprioritize his commitments. This comes at a challenging time for Intel, as it recently announced plans to cut 17,500 employees, lower its revenue forecast for the third quarter, and suspend its dividend. Shares of the company were slightly up in extended trading following the news.
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Intel shares surged 10%, as investors cheer appointment of new CEO Tan
Economic Times
·
4m ago
Medial
Intel shares rose by 10% as Lip-Bu Tan was appointed CEO, following a period of market underperformance. Tasked with reviving Intel's fortunes after losing out on the AI-driven semiconductor boom, Tan brings extensive industry relationships to leverage Intel's contract manufacturing business. Despite challenges and skepticism about Intel’s future, Tan's credibility as a neutral party is expected to help Intel navigate current issues. His previous board experience provides him insight into company challenges.
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Struggling Intel names industry veteran Lip-Bu Tan as CEO
Economic Times
·
4m ago
Medial
Intel has appointed industry veteran Lip-Bu Tan as the new CEO to steer the company through its struggles in the AI chip market. Tan, replacing the ousted Pat Gelsinger, emphasizes an engineering-focused approach to rebuild Intel's standing. Despite challenges from rivals like TSMC, Samsung, and Nvidia, Intel plans to take calculated risks to regain a competitive edge. The announcement has positively impacted Intel's shares, reflecting market optimism about Tan's leadership.
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Intel board member quit after differences over chipmaker's revival plan
Economic Times
·
11m ago
Medial
The recent resignation of a board member at Intel was reportedly due to differences with CEO Pat Gelsinger and other directors over issues such as the company's bloated workforce, risk-averse culture, and lagging artificial intelligence strategy. Lip-Bu Tan, a semiconductor industry veteran, had joined the board two years ago to help restore Intel's position as a leading chipmaker. However, he grew frustrated with the company's large workforce and bureaucratic culture. Tan's departure highlights the challenges faced by Intel as it undergoes a turnaround effort in the midst of a difficult period for the company.
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Intel's new CEO plots overhaul of manufacturing and AI operations
Economic Times
·
4m ago
Medial
Intel's incoming CEO, Lip-Bu Tan, is planning significant changes to revive the company, focusing on manufacturing and AI strategies. His approach includes restructuring AI operations, addressing management inefficiencies, and improving Intel Foundry's performance by attracting new clients. Tan aims to enhance customer engagement and keep control over factories while restoring Intel's market dominance. Despite the recent financial losses, Tan intends to bolster Intel's manufacturing capabilities to produce AI-featured chips, setting a long-term vision for success.
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New Intel CEO Lip-Bu Tan will pick up where Pat Gelsinger left off
Arstechnica
·
4m ago
Medial
Intel has appointed Lip-Bu Tan as the new CEO, replacing Pat Gelsinger after his ousting due to financial losses and restructuring moves. Tan, previously on Intel's board, will start on March 18, continuing the plan to transform Intel into a chip foundry competing with giants like TSMC. The company faces challenges, including an $18.76 billion loss in 2024 and reliance on the US government's CHIPS Act for funding its revival strategy.
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US lawmaker questions Intel CEO's ties to China in letter to company board chair - The Economic Times
Economic Times
·
2d ago
Medial
U.S. Senator Tom Cotton raised concerns over Intel CEO Lip-Bu Tan’s links to Chinese companies in a letter questioning the company's board about Intel's national security integrity. He scrutinized Tan's investments, disclosures, and former connections to Cadence Design, which faced legal issues over Chinese sales. Although Tan reportedly divested from Chinese entities, his investments raised questions amid Intel's involvement in a U.S. defense program. Intel confirmed commitment to U.S. security, promising to address the concerns raised by Cotton.
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After years of failed AI deals, Intel plans homegrown challenge to Nvidia
Economic Times
·
3m ago
Medial
Intel's new CEO, Lip-Bu Tan, aims to challenge Nvidia's dominance in AI chips through homegrown efforts after past acquisition strategies fell short. Tan plans to refine Intel’s existing products to cater to emerging AI trends, such as robotics. Intel will adopt a holistic approach by redefining its portfolio and optimizing designs to meet customer needs. While promising, analysts caution about Nvidia's strong market position and Intel's future support of new chip developments.
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A timeline of the US semiconductor market in 2025 | TechCrunch
TechCrunch
·
14d ago
Medial
In 2025, the U.S. semiconductor industry experienced significant changes and challenges. Key developments included Intel's restructuring efforts, Nvidia's struggles with U.S. export restrictions, and AMD's acquisitions to bolster its AI capabilities. The Trump administration's AI Action Plan emphasized chip export controls, while trade tensions with China persisted. Additionally, Intel appointed Lip-Bu Tan as CEO, focusing on revitalization. Major industry events, regulatory actions, and market dynamics shaped the sector's future, highlighting its critical role in technological advancement.
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Intel to lay off more than 5,500 employees in US in latest round of job cuts - The Economic Times
Economic Times
·
22d ago
Medial
Intel plans to lay off over 5,500 employees in the US, significantly affecting its California and Oregon workforce. The job cuts aim to streamline operations as the company falls behind competitors like Nvidia and AMD in the CPU and AI GPU markets. New CEO Lip-Bu Tan acknowledges Intel's declining market position, emphasizing the need for agility and competitive alignment with industry leaders. Intel's valuation has decreased, reflecting its current struggles.
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Intel's new CEO explores big shift in chip manufacturing business - The Economic Times
Economic Times
·
1m ago
Medial
Intel's CEO, Lip-Bu Tan, is considering a strategic shift in its foundry business, potentially halting the marketing of its 18A chipmaking technology to external clients. This move comes as the company faces delays with 18A and aims to focus on the next-generation 14A process to better compete with TSMC for major customers like Apple and Nvidia.
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