“Tell me the bad news”
In the tech world, Lip-Bu Tan is lauded as the turnaround expert who revitalized software firm Cadence Design Systems and joined Intel as chief executive a year ago with a mandate to do the same at the famed Silicon Valley semiconductor maker.
But the 66-year-old Malaysian-born Tan leaves no doubt about how he sees himself: as an engineer who embraces problem solving.
Speaking before a standing-room only audience at the 2026 SIEPR Economic Summit on March 6, Tan discusssed his career and vision of strengthening Intel to lead in an AI world. His fireside chat with John Shoven, the former Trione Director and a senior fellow emeritus at SIEPR, kicked off the Summit.
Humility is key in his playbook.
Tan recalled his first days at the helm of Intel when customers approached him to relay lists of problems they were having with the company. Tan, who has a graduate degree in nuclear engineering, listened and took notes. As at Cadence, Tan’s approach was “to understand what is the real problem and, being a good engineer, you (then) try to figure out how to solve it,” he said.
Tan touched on some high points in his first year at Intel, including successful meetings with President Donald Trump and the appointment of Craig H. Barratt as board chair. Intel’s turnaround is projected to take years, and Tan spoke candidly of challenges he expects —strengthening Intel’s balance sheet, recruiting more talent from outside the company, and gradually changing the corporate culture. Managers, for instance, tend to want to relay good news, and Tan explained his response to that: “If you tell me the bad news, that means it’s our problem. If you don’t tell me, then this is your problem. And if I hear it from the customer, you are in deep trouble.”
As important as technical expertise and problem solving are, it’s also essential to build bonds with customers and suppliers, whom Tan views as partners. “Be humble,” Tan said. “You don’t need to tell them how smart you are.” Most important, he added, is to “get the customer to know they can trust you.”
Intel is planning for its next generation of faster, more powerful semiconductors essential to the artificial intelligence systems that companies and workers increasingly use in their businesses, Tan said.
With the “sea change” driven by AI, “the good news is that demand is strong,” he said. To meet demand, Intel will have to address constraints within its supply chain and enhance partnerships with foundries.
This year’s focus is on execution, Tan said. “Next year, I think you’ll see that we’re starting to grow the business.”
Photos by Ryan Zhang.