Intel CEO Lip-Bu Tan backed Classiq years before its acquisition
The Intel chief invested in the Israeli quantum software startup before taking the helm at the chipmaker and has since described it as a potential “next Cadence.” Sources close to Classiq say Tan recused himself from discussions concerning the acquisition.
Intel CEO Lip-Bu Tan invested in Israeli quantum software startup Classiq years before the chipmaker acquired the company, giving him a longstanding personal connection to a business that now fits into his vision for Intel’s future. But according to sources close to Classiq, Tan recused himself from discussions concerning the acquisition.
Tan’s early investment and subsequent public comments offer a glimpse into why Classiq fits his broader ambitions for Intel, which is seeking opportunities beyond its traditional semiconductor business.
Tan invested in Classiq’s $33 million Series B round in February 2022, alongside chip-design industry veteran Harvey Jones. He remained among its backers as the company raised $110 million in a Series C round in May 2025, bringing its total funding to $173 million at the time. A subsequent extension brought its cumulative funding to more than $200 million.
Tan previously led Cadence Design Systems, whose software is used to design and develop complex semiconductor chips. His experience at Cadence appears to inform his view of Classiq’s potential. In a September interview on the QuantumJane podcast, Tan described the Israeli startup as an attempt to build the “next Cadence” for quantum computing.
Classiq, founded in 2020 by Nir Minerbi, Amir Naveh and Yehuda Naveh, develops software that allows users to design quantum applications without tailoring them to a single type of quantum processor. Its platform is designed to work across different quantum hardware architectures, an advantage in a field where competing approaches, including trapped ions, neutral atoms, superconducting circuits and silicon spin qubits, are still vying for commercial relevance.
Intel is itself developing silicon spin qubits and has about 70 employees working on quantum computing, according to his September interview. The company is exploring whether its semiconductor manufacturing capabilities could eventually help produce quantum processors at scale.
Tan has argued that the industry needs to explore several technological approaches before a winner emerges. He has also described quantum computing as a potentially enormous market, saying it could ultimately be “ten times bigger than AI using classical computing to quantum computing,” while acknowledging that the industry remains at an early stage.
Classiq could give Intel a position in the software layer of that emerging market, rather than requiring it to rely solely on the success of its own hardware. As quantum computers develop, software capable of translating applications across different architectures could become increasingly important to companies seeking to use the technology.
Tan’s investment history has drawn broader scrutiny as he has taken the helm at Intel. Reuters reported in December 2025 that Intel had introduced policies requiring him to recuse himself from investment decisions where he might benefit from a transaction, including certain decisions involving Intel’s board and Intel Capital. Such recusals are common in corporate governance when executives have potential conflicts of interest.
Tan’s Classiq investment predates his leadership of Intel, but his long-standing interest in the company helps explain why its technology aligns with his vision for the chipmaker. The public comments he has made about Classiq and quantum computing establish his enthusiasm for the startup’s approach.
