Intel CEO Lip-Bu Tan has been tapped for another job. The executive is joining the board of directors for $7 billion quantum computing company PsiQuantum, the company exclusively told Semafor.
It follows several investments in such businesses through the venture capital firm Tan chairs, A&E Investments. A&E participated in PsiQuantum’s Series C funding round in 2019 and invested in IonQ that same year.
The appointment draws PsiQuantum closer to the semiconductor industry as it rounds out its approach to delivering scalable quantum computers that operate effectively even with the presence of errors — the challenge most quantum companies are tackling right now. It is betting that chips with photonic qubits, or light particles, can produce that, and it has ramped up its chip manufacturing in preparation. The company is building facilities in Brisbane and Chicago, with hopes to bring the former online next year, ahead of many of its competitors’ timelines.
In a statement to Semafor, Tan said he has been following the company for years, and that “their focus on fault-tolerant systems that can be manufactured at scale using the semiconductor industry sets them apart.”
Selected by Intel’s board as the company’s turnaround man last year, Tan is one of the most prominent voices in chipmaking. He has faced scrutiny for his investments in Chinese tech companies, including semiconductor firms, through his venture firm Walden International. The controversy at one point led US President Donald Trump to call on Tan to step down from Intel, though the two have since settled their differences.