TSMC stake slumps 4.66% on lawsuit against former executive Lo Wei Jen for leaking trade secrets to Intel — All we know

Shares of Taiwan Semiconductor Manufacturing Company (TSMC) fell 4.66% on 25 November to 187.64 Taiwan dollars, from previous close of 192.30 Taiwan dollar on reports that the chip maker is suing a former executive for allegedly leaking trade secrets to competitor Intel.

In a statement TSMC said that it is suing former senior vice president Lo Wei-Jen, alleging “high probability” he leaked trade secrets to new employer Intel, where he joined as executive vice president after retiring in July 2025, AFP reported.

Intel did not respond to queries from AFP, Bloomberg, and Reuters. Lo did not respond to requests from Reuters and Bloomberg.

What is the lawsuit claim?

TSMC in its statement said that a case has been lodged with the Intellectual Property and Commercial Court, based on Lo's terms of employment contract, non-compete agreement and regulations such as the Trade Secrets Act.

“There is a high probability that Lo uses, leaks, discloses, delivers, or transfers TSMC's trade secrets and confidential information to Intel,” TSMC said.

The company added that while Lo was transferred to TSMC's Corporate Strategy Department in March 2024 he allegedly continued to meet with staff from Research and Development departments “to provide information for him to understand the advanced technologies currently, and planned to be, under development by TSMC”.

Further, it added that Lo had signed non-disclosure and non-compete agreements with TSMC and claimed in his exit interview with TSMC's lawyer that he planned to join an “academic institution”.

Taiwan govt watching developments closely

As per the AFP report, Taiwan's Ministry for Economic Affairs has issued a statement on the development, saying that it would “closely monitor any impact on the industry” and work with prosecutors and investigators to determine if the case involves “violations of the National Security Act”.

Reuters reported that Taiwan's economy minister said last week authorities were investigating Lo after local media reported that he may have taken TSMC's advanced technology data to his new employer.

Notably, when asked by Bloomberg about the allegations last week, Intel CEO Lip-Bu Tan dismissed it and said the company respects intellectual property rights.

Valued at over $1.15 trillion, TSMC is among the top beneficiaries of the artificial intelligence (AI) wave.

Who is Lo Wei-Jen?

Lo Wei Jen (75) joined Intel in October 2025 after retiring from TSMC in July this year, following a 21-year-long career with the chipmaking giant. A source told Reuters that at Intel, Lo reports directly to CEO Tan.

Notably, Lo worked at Intel for 18 years before joining TSMC in 2004, it said, adding that he helped drive TSMC's mass production of cutting edge 5-nanometre, 3-nm and 2-nm chips.

During his former stint at Intel, Lo served as a director of technology development and was a factory manager, running Intel’s development facility in Santa Clara, California.

During his tenure at TSMC, Bloomberg reported that he was at points in charge of research and technology development and drove mass production of chips used to make AI accelerators.

(With inputs from Agencies)