When Lip-Bu Tan took over as Intel CEO, the company's balance sheet was so dire that potential recruits turned him down flat, worried they'd be joining a chipmaker on the verge of going bust.Speaking at the JP Morgan Global Technology, Media and Communications Conference on Tuesday, he said: "I tried to recruit some talent. They said 'It's almost a bankrupt company, why should I join you?'" Fixing that became his first priority.
That effort has since paid off as Lip-Bu secured equity investment from the Trump administration, which converted funds from the CHIPS program in exchange for a stake. He also drew on long-standing personal relationships, with Nvidia CEO Jenson Huang committing $5 billion and Softbank's Masayoshi Son - a former Intel board member - signing on as a backer.
"So far, knock on wood, I made money for them, and they're quite happy," Lip-Bu said. The stronger balance sheet has since enabled Intel to buy back a stake it had sold to Apollo, reducing earnings-per-share dilution in the process, he added. Now, a year into the job, Lip-Bu is betting on agentic AI, inference workloads and a bold chipmaking roadmap to complete Intel's revival - looking beyond the upcoming 14A process node to future 10A and 7A chipmaking technology.When asked for a progress report on the process technology
