Intel hires Marvell exec to target ASIC chip market

Intel has hired former Marvell executive Dean Jarnac as part of its bid to become a leading foundry for custom ASIC chips—specialized processors used for specific tasks, like AI. New CEO Lip-Bu Tan brought Jarnac in to help expand Intel’s ASIC contracts and shake up its slow-moving bureaucracy. Intel already claims its ASIC unit could hit $2 billion in annual revenue, with hopes to double that soon.

• Dean Jarnac hired from Marvell for ASIC efforts
• Intel aims to shake up its management culture
• ASIC business nearing $2 billion per year
• Intel wants to double this run rate soon
• Competitors include Broadcom, Marvell, and Samsung