Quick overview

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Lip-Bu Tan, the CEO of Intel, denied rumors that a recent hire had stolen trade secrets from Taiwan Semiconductor Manufacturing Co. to his business, stating that the US chipmaker respects the intellectual property of other companies.

Intel’s shares (NASDAQ: INTC) fell by 4%, closing at $33 per share. This drop aligns with the ongoing volatility in the sector, exacerbated by U.S.-China trade disputes and funding delays related to the CHIPS Act. Nevertheless, retail investors remain cautiously optimistic; some view the hiring efforts as a talent acquisition rather than a risk.

The 75-year-old Lo Wen-jen’s transition from retiring from TSMC earlier this year to joining Intel in recent weeks was covered by Taiwanese newspapers throughout the week.

An executive is accused of stealing confidential information from his previous employer, but these claims are based on conjecture and gossip. At the Semiconductor Industry Association Awards in San Jose on Thursday, Tan stated to Bloomberg News, “We respect intellectual property.”

 

TSMC’s CEO, C.C. Wei, was honored at the event, along with former Chairman Mark Liu, receiving the Robert N. Noyce Prize. With a valuation of over $1.15 trillion, TSMC has surpassed semiconductor pioneer Intel to become the global leader in contract chipmaking.

 

In response to the allegations, TSMC has launched an internal investigation to determine whether Lo stole trade secrets without authorization. An anonymous source, citing the confidential nature of the information, mentioned that it is uncertain if TSMC has assessed any potential impact on the business.

Lo was responsible for corporate strategy and played a key role in overseeing research and technology development. He was instrumental in helping the company produce cutting-edge chips in large quantities, including those used in AI accelerators. Lo is also a recipient of an esteemed award from the Industrial Technology Research Institute in Taiwan. Before joining TSMC in 2004, he worked at Intel, where he focused on advanced technology development and managed a chip factory in Santa Clara, California. He holds a Ph.D. in surface chemistry and solid-state physics from UC Berkeley.