President Trump is calling for the immediate resignation of Intel CEO Lip-Bu Tan, citing concerns over Tan's previous business connections to China. Trump made the demand Thursday on Truth Social, stating that Tan is "highly CONFLICTED" and "there is no other solution" other than for him to step down. Intel shares dropped more than 2% in premarket trading, per the Wall Street Journal. The move follows a public letter from GOP Sen. Tom Cotton to Intel's board earlier this week questioning Tan's links to the Chinese government and military, as well as his history of investing in Chinese tech companies.
An earlier Reuters investigation found Tan, a Malaysian-born American venture capitalist who took the helm at Intel in March, invested at least $200 million in hundreds of Chinese advanced manufacturing and microchip firms, including at least eight linked to the People's Liberation Army, from March 2012 to December 2024. Cotton's letter took note of Tan's time leading Cadence Design Systems, a Silicon Valley software firm that recently agreed to pay $140 million for breaching US export controls by selling to a Chinese university with military ties.
Cotton argued that Intel, which is receiving billions in government funding to build up a supply of microchips for use by the US, must act as a careful steward of taxpayer dollars and adhere to security regulations. While some analysts say Intel is in need of a change—the company has seen its stock lose over half its value in five years—others see Trump's attempt to dictate who runs companies as a concerning political move, per Reuters. Still others argue Tan's experience is an asset to Intel and the US.
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