Lip-Bu Tan, the CEO of Intel Corporation (NASDAQ:INTC), has taken on a new role as a board member of quantum computing firm PsiQuantum, which is currently valued at $7 billion.
“Their focus on fault-tolerant systems that can be manufactured at scale using the semiconductor industry sets them apart,” Tan told Semafor on Thursday, as he commended PsiQuantum’s unique approach.
PsiQuantum is strengthening ties with the semiconductor industry as it advances scalable, error-tolerant quantum computers using photonic qubits. The company is expanding chip manufacturing and building facilities in Brisbane and Chicago, aiming to launch its Brisbane site next year ahead of many rivals.
The company is backed by big tech like Microsoft Corp. (NASDAQ:MSFT) and Nvidia Corp. (NASDAQ:NVDA), among others.
Tan's Quantum Ties And Intel Scrutiny
Tan’s appointment to PsiQuantum’s board follows his history of backing quantum computing ventures through A&E Investments, a venture capital firm he chairs. A&E Investments previously funded PsiQuantum in its 2019 Series C round and also invested in IonQ that same year. Tan has been closely monitoring PsiQuantum’s progress for years.
Intel hired Tan in March 2025 for his venture capital expertise and strong industry connections, but his leadership has not been without controversy. In December, Tan faced scrutiny over multi-billion-dollar AI deals that intersected with his personal investments.
Intel's board rejected a 2025 proposal by Tan to acquire AI startup Rivos, where he had a stake, over conflict-of-interest concerns and lack of a clear AI strategy. He also pushed for a SambaNova deal. Experts flagged governance risks due to his overlapping roles in Intel and his own investment firms, including A&E Investment, though some noted his industry ties could benefit Intel.
Intel Shares Jump On AI-driven Demand
Tan’s appointment on the PsiQuantum board comes at a time when Intel has been experiencing a record-breaking rally, with its stock surging about 115% in April. The chipmaker posted strong Q1 2026 results, beating estimates as AI-driven demand, especially for inference and agentic AI, boosted CPU needs. CEO Lip-Bu Tan highlighted AI growth, while CFO Dave Zinsner credited broad price increases for the earnings beat.
This rally marked one of the most dramatic turnarounds in big-cap tech amid the U.S. government’s stake in Intel the previous summer. President Donald Trump said federal investments in Intel generated over $30 billion in gains in recent months after backing the company.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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