April 11 - Intel (NASDAQ:INTC) Chief Executive Officer Lip-Bu Tan holds stakes in hundreds of Chinese technology firms, including at least eight reportedly connected to China's People's Liberation Army, according to a Friday report from Reuters citing Chinese and U.S. corporate filings.
Tan, who became CEO of Intel in March, has long been an influential figure in Silicon Valley's China tech investment landscape. His appointment raised concerns among some shareholders due to his continued financial involvement in the region, particularly at a time when Intel supplies chips for sensitive U.S. government programs.
The report said Tan has control over more than 40 Chinese firms and funds, while holding minority interests in more than 600 others through entities he leads or owns. These include Walden International, the venture capital firm he founded in 1987, along with Hong Kong-based Sakarya Limited and Seine Limited.
Several of those investments involve Chinese state-backed institutions, Reuters added. While U.S. export rules prohibit sending sensitive tech to restricted companies, they do not restrict passive financial stakes.
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