Intel CEO Lip Vu Tan will step down from his post after a meeting at the White House in Washington, DC, on Monday, August 11, 2025.
Alex Roblewski Bloomberg | Getty Images
intel CEO Lip-Bu Tan announced Tuesday that the company has appointed a new chief architect to build its graphics processing units (GPUs).
The chips are Nvidia and advanced micro devicepower large-scale language models, and demand is surging as companies race to build out artificial intelligence infrastructure and data centers.
Tan told the audience at the Cisco AI Summit that it took “some persuasion” to convince new executives to join the chipmaker. Mr Tan did not reveal the names of the new employees.
Intel’s stock price has risen in the last year as investors have grown more optimistic about the company’s foundry business, which primarily makes chips for itself.
The American chipmaker, which has struggled over the past few years, has fallen behind larger chip companies that are gaining momentum in building AI data centers.
Earlier this month, production backlogs and supply issues clouded the company’s better-than-expected quarterly results. Investors also expected more clarity on the foundry sector’s key customers.
Last year, the company received a series of large investments from the US government, SoftBank, and Nvidia.
Mr Tan also mentioned the memory chip shortage rocking the technology sector.
The growing demand for AI data centers has created an imbalance between supply and demand, and memory chip companies continue to raise prices.
He said AI was the “biggest challenge” to memory and predicted that “we won’t see relief until 2028.”
