Ex-Intel Director Joins Bitcoin ASIC Designer Auradine’s Board

Lip-Bu Tan, a veteran of the semiconductor industry who stepped down from Intel’s board last year, has joined U.S.-based Bitcoin mining chip designer Auradine as a board director.

Auradine announced the appointment on Wednesday, highlighting Tan’s four decades of experience in hardware and software within the semiconductor sector.

Tan is the founder and chairman of venture capital firm Walden International and a founding managing partner of Celesta Capital and Walden Catalyst. He holds board positions at several companies, including SambaNova Systems, Schneider Electric, and Credo Technology. He is also the former CEO of Cadence Design Systems.

Tan’s appointment comes as Auradine, an emerging Bitcoin ASIC designer, seeks to challenge the dominance of its Chinese competitors in the market.

“I am impressed by the Auradine team’s vision and execution in developing groundbreaking, energy-efficient solutions for Blockchain and Gen AI networking infrastructure,” Tan said.

Most recently, Tan served as a board director at Intel but resigned in August 2024, reportedly due to disagreements with the company’s CEO and other directors. He joined Intel’s board in 2022 as part of the blue-chip company’s efforts for a turnaround amid rising chip industry competition.

According to a Reuters report, Tan, who is highly regarded by investors, grew frustrated with Intel’s extensive workforce, its manufacturing strategy, and its risk-averse, bureaucratic culture.

Tan holds a Bachelor of Science in Physics from Nanyang Technological University in Singapore, a Master of Science in Nuclear Engineering from MIT, and an MBA from the University of San Francisco.