SANTA CLARA/SAN FRANCISCO — Intel Corporation named Lip-Bu Tan as its new Chief Executive Officer, thrusting a little-known but immensely influential tech veteran into one of the highest-profile roles in Silicon Valley. Effective March 18, Tan steps into the spotlight to helm a troubled chipmaking legend that once put the “silicon” in Silicon Valley, following a board announcement that sent Intel shares surging over 12% in after-hours trading. As hashtags like #IntelCEO and #LipBuTan trend on X, Tan’s storied career as a successful underdog—turning long shots into tech titans—offers hope for a dramatic turnaround at a company facing its steepest challenges yet.
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Tan, 65, may be unfamiliar to the public, but his name resonates deeply within the tech industry. Born in Malaysia, raised in Singapore, and now a naturalized American citizen, he arrived in the U.S. for advanced education, earning a Bachelor of Science in physics from Nanyang Technological University, a Master’s in nuclear engineering from MIT, and an MBA from the University of San Francisco. In 1987, he founded Walden International, a venture capital firm named after Thoreau’s Walden Pond, reflecting his penchant for unconventional bets. Tan’s strategy—backing small teams of engineers with bold chip designs to challenge industry giants—yielded blockbuster successes.
Who is Lip-Bu Tan?
Lip-Bu Tan, born in 1959 in Muar, Malaysia, is of Malaysian-Chinese descent. He was raised in Singapore, where he earned a degree in physics from Nanyang University. He later moved to the United States to pursue a Master’s in Nuclear Engineering at the Massachusetts Institute of Technology (MIT).
His stake in Annapurna Labs, sold to Amazon for $370 million in 2015, now powers Amazon’s in-house chip division, outpacing Intel’s own processors. Another win, Nuvia, fetched $1.4 billion from Qualcomm in 2021, proving Tan’s knack for spotting winners.
His most celebrated feat came as CEO of Cadence Design Systems from 2009 to 2021, where he transformed a faltering firm into a $2.6 billion powerhouse, up from $1 billion, with a stock rise of 3,200%. By forging a pivotal alliance with Taiwan Semiconductor Manufacturing Company (TSMC) and prioritizing customer-driven innovation, Tan made Cadence a linchpin for tech giants like Apple—ironically contributing to Intel’s decline as Apple shifted away from its chips. “Tan’s an underdog whisperer,” said Karl Freund of Cambrian AI Research. “He knows how to turn small into big.”
Now, Tan faces Intel’s existential crisis. The company reported a $18.76 billion loss in 2024—its first annual deficit since 1986—hammered by Nvidia’s AI supremacy, TSMC’s manufacturing edge, and missed opportunities in mobile and foundry markets. Having served on Intel’s board until August 2024 (leaving over strategic clashes with ousted CEO Pat Gelsinger), Tan inherits a firm under investor pressure to slash costs and possibly spin off its foundry arm. Yet, in a March 12 letter to Intel’s 100,000 employees, he rejected breakup talk: “Together, we will restore Intel’s position as a world-class products company and delight our customers like never before.”
Tan’s edge lies in his industry clout. Virtually every former and potential Intel customer—from Amazon to AMD’s Lisa Su and Nvidia’s Jensen Huang—knows him, having bought his backed startups or used Cadence software. On X, optimism abounds: “Lip-Bu’s the guy who beat giants before—he can save Intel,” one user posted. Analysts speculate he’ll leverage TSMC ties or fast-track Intel’s 18A process to regain footing. As of March 18, 2025, with Intel’s performance now on global display, Tan’s proven underdog playbook—honed over decades in California’s tech crucible—positions him as the unlikely savior Silicon Valley’s original giant desperately needs.
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