Trump Demands Intel CEO's Resignation Over China Ties

President Donald Trump called for the immediate resignation of Intel’s new CEO, Lip-Bu Tan, on Thursday, citing his purported “highly conflicted” associations with Chinese technology companies. Trump stated on Truth Social, "The CEO of Intel is highly conflicted and must resign immediately. There is no alternative solution to this issue. Thank you for your attention to this matter." Following his comment, Intel's stock fell sharply in premarket trading, declining about 5%, NBC News reported.

Trump's push for Tan's resignation comes a day after Senator Tom Cotton (R-Ark.) sent a letter to Intel's board, expressing concern about Tan's connections to Chinese entities linked to the Communist Party and Chinese military. Cotton also highlighted the $8 billion in federal funding Intel received through the CHIPS Act and questioned whether Tan's associations might impede Intel's ability to meet its obligations, as reported by Axios.

Also Read:Apple to Invest Additional $100B in U.S. Manufacturing

Tan became Intel's CEO in March. Despite a strong start, with the company reporting better-than-expected revenue early in his tenure, Intel also announced plans to cut back on factory construction.

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