Intel CEO Lip-Bu Tan: Restructuring About 80% Complete; U.S. Stake Carries No Say in Governance
Intel chief executive Lip-Bu Tan said the company's sweeping internal restructuring is about 80 percent complete, in an interview with Nikkei Asia published on October 17. Since becoming CEO in March 2025, Tan has replaced most of Intel's senior leadership, including bringing in former SK hynix chief executive Seok-Hee Lee. He did not specify what restructuring steps remain or give a completion date.
Rebuilding Intel's contract chip manufacturing business will be a long-term undertaking, Tan said, pointing to TSMC's own trajectory of taking 10 to 20 years to become the world's leading semiconductor foundry. Developing new manufacturing technologies and building factories require billions of dollars invested over many years. Under former CEO Pat Gelsinger, Intel committed billions to expanding capacity and recorded a $16.6 billion net loss in the third quarter of 2024 before Gelsinger stepped down in December 2024.
On the U.S. government's stake, Tan said the Trump administration has no "policy" of using its minority holding to interfere in Intel's business strategy, that Washington has no influence on the company's governance, and that Intel remains independent. The government took a 9.9 percent stake in 2025 through an $8.9 billion investment, with no board seat; the holding later fell to about 8.2 percent after a subsequent share offering. Nvidia committed $5 billion and SoftBank $2 billion to Intel in the same period. Intel's stock has risen roughly fourfold since Tan became CEO. (GSM, from Nikkei Asia reporting)
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Published by GSM · USA (original Chinese edition)
Photo: 图：英特尔首席执行官陈立武（2025年8月与美国商务部长会面时摄，裁切版）· 美国商务部公共领域照片，经 Wikimedia Commons / Intel CEO Lip-Bu Tan in August 2025 (cropped) · U.S. Department of Commerce, public domain, via Wikimedia Commons
