The News
Intel named an outsider as its next chief executive, hoping to revive the iconic American firm as it struggles with falling sales and a failure to crack the artificial intelligence market.
Lip-Bu Tan — the firm’s fourth CEO in seven years — previously headed a chip-design software business and is a former Intel board member.
The company’s shares soared on news of Tan’s appointment, though it was not clear if he would revamp its strategy: His predecessor sought to compete with Taiwanese giant TSMC, which is reportedly interested in launching a joint venture to take over Intel’s factories.
Tan is stepping into “the toughest gig in US tech,” a Bloomberg columnist warned, describing his selection as Intel’s “last throw of the dice.”
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