A new report claims that Intel’s new CEO has invested in hundreds of Chinese technology firms, including at least eight companies linked to China’s People’s Liberation Army.
According to Reuters, Lip-Bu Tan was appointed last month as the new CEO of Intel, the largest computer chip maker in the United States and a company that develops products for the U.S. Department of Defense.
A review of U.S. and Chinese corporate filings conducted by Reuters discovered that Tan controls over 50 Chinese companies and funds and has minority stakes in more than 600 others through various investment firms. Reuters noted that Tan shares his minority stake ownership of many companies with Chinese government entities.
Reuters reported that between March of 2012 and December of 2024, Tan invested at least $200 million into hundreds of Chinese chip and manufacturing companies. Reuter’s review noted that some of the companies Tan invested in included contractors and suppliers for China’s People’s Liberation Army.
According to Reuters, the outlet discovered 20 investment companies and funds that are jointly owned by Walden International and Chinese government entities. Reuters reported that Tan made multiple investments through Walden International, which is listed as a venture capital firm.
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Reuters’ review also discovered that Walden International has investments in six Chinese tech firms connected to China Electronics Corporation, which is a supplier for the People’s Liberation Army, and that Tan invested in Semiconductor Manufacturing International Corp, which is currently sanctioned by the federal government due to its connections with the Chinese military.
According to Reuters, while an anonymous source with knowledge of the situation told the outlet that the new Intel CEO had divested from his positions in Chinese companies, a review of Chinese databases still listed multiple of Tan’s investments in Chinese firms as current.
Due to Tan’s reported connections with China, Andrew King, a partner at Bastille Ventures, told Reuters, “The simple fact is that Mr. Tan is unqualified to serve as the head of any company competing against China, let alone one with actual intelligence and national security ramifications like Intel and its tremendous legacy connections to all areas of America’s intelligence and the defense ecosystem.”
Despite concerns regarding Tan’s connections with Chinese companies, an Intel spokesperson told Reuters that the CEO had completed a director and officers questionnaire that requires individuals to notify the company of any potential conflicts of interest. The spokesperson said, “We handle any potential conflicts appropriately and provide disclosures as required by SEC rules.”
