After Pat Gelsinger’s Departure he left Intel’s CEO role in late 2024, where he held 100 meetings in 100 days. Gelsinger shared with WIRED that this approach was aimed at refining options for his next steps.
In March of the following year, Gelsinger announced his new role as a general partner at Playground Capital, a venture capital firm that focuses on deep technology. He emphasized his investment in emerging technologies grounded in new scientific advancements.
Gelsinger’s mission aims to support a new breed of semiconductor startups that can invigorate Moore’s Law. Decades ago, Intel co-founder Gordon Moore predicted the doubling of transistors on a chip every two years, leading to exponential performance growth. However, challenges in physics have made further miniaturization of atomic-scale transistors increasingly complex and costly.
Gelsinger asserts that breakthroughs in lithography, which employs nanometer-scale light beams for chip etching, are essential to overcoming these obstacles. Cutting-edge lithography technology from Dutch company ASML enables chip manufacturers to imprint circuits using light wavelengths of 13.5 nanometers, allowing for denser, more powerful processors.
Upon joining Playground, Gelsinger became a board member of xLight, a firm innovating new lithography techniques. Recently, it secured a government investment. During our discussion, Gelsinger humorously quoted, “God said, ‘Let there be light!'”
As AI reshapes the software landscape, an increasing number of venture capitalists are transitioning to deep tech. Gelsinger believes he is exceptionally qualified to pinpoint emerging winners in this space.
WIRED met Gelsinger at the RAISE Summit conference in Paris in early July to discuss his strategy for evaluating deep tech founders, the evolving U.S. government policies on AI and semiconductors, and the intertwined nature of breakthroughs in these fields.
This conversation has been edited for brevity and clarity.
Wired: It took about four months from your departure from Intel to your arrival at Playground. What were your thoughts during that transition?
Pat Gelsinger: My wife remarked, “It’s not over yet.”
I was analyzing the roles of government, universities, CEOs, and venture capital. It was a deductive reasoning process. Ultimately, I chose not to pursue a [public-facing] earnings call. I didn’t see myself as a politician. I concluded my options were focused on private equity or venture.
My aim is to contribute to something significant that, if successful, will make a meaningful impact, alongside people I enjoy working with.
Why did you choose to avoid private equity?
Private equity tends to write larger checks but often lacks a focus on technology. At this stage of my career, I ask myself: Do I want to invest heavily and be preoccupied with financial returns, or do I want to engage in exciting technology?
We stand at the forefront of scientific innovation, actively proving new concepts. That has always been my passion—technology excites me.
With AI disrupting the software sector, what are your thoughts on how AI will evolve and the next investment avenues that might surface?
The doors are wide open.
By 2024, the semiconductor industry aimed for a $1 trillion valuation by 2030. Next year, we’re targeting that same milestone. My company need not outperform the market to achieve remarkable profits; capturing just a significant share will suffice. AI offers tremendous potential for deep tech ventures.
The encouraging news is that many startups are steering towards this direction. However, the downside is that many of them have overlooked the fundamentals of deep tech: how to discern winners from losers.
Source: www.wired.com