Workflow
Advanced AI chips
icon
Search documents
Struggling Intel names ex-board member Lip-Bu Tan as CEO, sending shares soaring
New York Postยท 2025-03-12 21:05
Group 1 - Intel appointed Lip-Bu Tan as CEO effective March 18, following the ousting of Pat Gelsinger [1][2] - Shares of Intel rose 12% in extended trading after the announcement [1][7] - The company is undergoing a significant transition, focusing on becoming a contract manufacturer of chips while facing challenges in capitalizing on the AI chip investment boom [2][5] Group 2 - Tan has over 20 years of experience in the technology sector and previously served as CEO of Cadence Design Systems [3][4] - Analysts view Tan's appointment positively, noting his experience in the semiconductor industry and familiarity with AI startups [3] - A critical decision for Tan will be whether to keep Intel's chip design and manufacturing operations integrated or to separate them [5] Group 3 - Intel's rival, Taiwan Semiconductor Manufacturing, has approached potential customers about forming a joint venture to operate Intel's factories [6] - The announcement of Tan's appointment did not mention any potential changes within the company [6]