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Intel Corp. (NASDAQ:INTC) is working to reclaim semiconductor leadership as its rivalry with Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) intensifies across the global chip supply chain.
That broader battle resurfaced this week when Intel CEO Lip-Bu Tan pushed back on allegations that a new hire brought trade secrets from Taiwan Semiconductor to the U.S. company.
Tan dismissed speculation surrounding Lo Wen-jen — a 75-year-old former senior executive at the Taiwanese chipmaker — who retired earlier this year before recently joining Intel.
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Taiwanese media claimed Lo carried proprietary manufacturing know-how from his former employer.
“It’s rumor and speculation. There’s nothing to it. We respect IP,” Tan told Bloomberg News at the Semiconductor Industry Association Awards in San Jose.
Taiwan’s High Prosecutors Office has opened an inquiry into the reports, citing national security concerns tied to the island’s critical chipmaking role.
A person familiar with the matter told Bloomberg that Taiwan Semiconductor launched its own internal review.
Lo previously led Taiwan Semiconductor’s research and technology development and later corporate strategy, helping advance mass production of cutting-edge chips used in AI accelerators.
He worked at Intel earlier in his career, managing a Santa Clara fabrication facility.
The investigation unfolds as Intel seeks to restore its engineering discipline under Tan, who has cut excess management layers, refocused resources on AI, and revived its foundry ambitions to close the technology gap with its rival.
Intel shares are up 68% year-to-date, supported by progress in restructuring and investments from partners, including Nvidia Corp. (NASDAQ:NVDA) and the Trump administration.
Still, Bank of America Securities analyst Vivek Arya cautioned that Intel must win major foundry customers and regain CPU momentum to convert strategic shifts into long-term profitability.
Meanwhile, Taiwan Semiconductor — the sole producer of top-tier chips for Nvidia and Apple — has surged 41% this year.
It recently denied reports of investment or partnership discussions with Intel, reiterating it has never pursued joint ventures, technology licensing, or know-how transfers.
Price Actions: INTC stock was trading lower by 1.70% to $33.04 premarket at last check Friday. TSM was down 2.85%.
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