Former Intel CEO Pat Gelsinger Joins Playground Global to Drive Chip Innovation

Pat Gelsinger, former Intel (NASDAQ: INTC) CEO, has joined venture capital firm Playground Global as a general partner, marking a major move in the semiconductor and deep tech investment space. Alongside this role, Gelsinger has also taken on the position of executive chairman at xLight, a startup developing cutting-edge laser technology for chip manufacturing.

Playground Global, based in Silicon Valley, manages $1.2 billion in assets and focuses on transformative technologies including AI, quantum computing, and semiconductors. It previously backed MosaicML, acquired by Databricks for $1.3 billion, and PsiQuantum, currently raising at least $750 million to scale quantum computing efforts in the U.S. and Australia.

Gelsinger, who departed Intel following internal disagreements over his turnaround strategy, told Reuters he plans to work closely with 10 to 20 of Playground’s portfolio companies. His focus will be on breakthroughs that deliver 10x performance over current technologies. “There are no sustainable protections. You must stay on the front foot of innovation,” Gelsinger said, emphasizing the need for constant advancement.

At xLight, Gelsinger supports a next-gen laser solution for extreme ultraviolet (EUV) lithography—essential for advanced chip production. Unlike the high-energy-consuming EUV lasers made by ASML Holding (AS: ASML), xLight’s approach promises significantly lower power usage. This innovation could increase chip output while enhancing chip speed and miniaturization, keeping pace with Moore’s Law.

Gelsinger views xLight’s technology as vital for the future of U.S. chip manufacturing. “Being able to have that light source done in America—I think that is huge for us,” he said.

This move underscores Gelsinger’s continued commitment to leading-edge semiconductor innovation and securing America’s position in the global chip race.