Intel's CEO reveals early hiring challenges as bankruptcy concerns deterred top talent
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...
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