Long-time Intel executive Pat Gelsinger resigned in December of 2024. Intel was once the world’s largest producer of computer chips with its technology used in almost every PC on the market. However,

Intel ( INTC) named Lip-Bu Tan its new CEO, sending the chipmaker's stock higher in after-hours trading Wednesday. Tan, who is set to take the helm of Intel as of next Tuesday, is the former CEO of Cadence Design Systems ( CDNS ), a semiconductor software company that counts Intel among its partners.