Former Intel and AMD executives build AI chip startups in India

About a dozen executives from Intel, AMD and Texas Instruments have left established semiconductor roles to start AI chip companies in India, as government incentives and rising chip demand reshape the local ecosystem. Many of the founders have spent 15-20 years in the semiconductor industry, adding experienced design talent to a market seeking a larger role in global chip development.

C2i Semiconductors, founded by four former Texas Instruments executives, is developing products to reduce semiconductor energy consumption and has raised $4 million from Yali Capital and Intel CEO Lip Bu-Tan, according to Tracxn. Agrani Labs, founded by four former Intel and AMD executives in Bengaluru, is developing indigenous AI chips and is in talks to raise $8 million from Peak XV Partners, according to people familiar with the development.

Krutrim acquired Bodhi Computing, founded by two Intel veterans, and is developing the Bodhi 1 chip for advanced AI models, expected to reach the market in 2026. Bodhi 2, focused on training and inferencing, is scheduled for release by 2028. Global semiconductor sales are on track to reach $1 trillion by 2030 from $627 billion in 2024, according to Deloitte.

Investor interest has also extended beyond AI-focused chip startups, with InCore raising $3 million, Mindgrove Technologies raising $8 million, and Agnit Semiconductors raising $4.87 million. Scaling remains difficult because India still depends on imported inputs, especially from China, and must match established supply chains while keeping costs low.