Intel has named veteran semiconductor executive Lip-Bu Tan as its new CEO, effective March 18, 2025. Tan, former CEO of Cadence Design Systems, is known for his success in boosting revenue and investing in semiconductor startups.
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His appointment follows the ousting of Pat Gelsinger, as Intel struggles with declining stock prices and competition from Nvidia in AI chips. Tan aims to restore Intel’s market position and expand its foundry business. Intel shares surged 12% following the announcement.
