Former US President Donald Trump has called for Intel CEO Lip-Bu Tan to resign, citing alleged conflicts of interest. In a post on Truth Social, Trump stated, “The CEO of INTEL is highly CONFLICTED and must resign, immediately.” He provided no specific details or evidence to support his claim. Intel is a major technology company focused on designing, manufacturing, and selling computer hardware and software products. The company is intended to play a central role in revitalising the US semiconductor industry.
The demand follows a letter from Republican Senator Tom Cotton to Intel’s board chairman, Frank Yeary, raising concerns about Tan’s connections to China. Cotton questioned Tan’s investments in Chinese semiconductor companies and other entities with ties to the Chinese military made prior to his role at Intel. The senator also highlighted Tan’s association with Cadence Design Systems, a tech company that previously admitted to violating US export controls by selling to a Chinese military university.
Intel has responded, affirming its and Mr Tan’s commitment to US national security. The company stated it would address the senator’s concerns. Intel had not responded to requests for comment regarding Trump’s post at the time of this reporting.
Following the remarks, Intel shares experienced a decline, falling 3.7 per cent in afternoon trading in New York on Thursday, thereby eliminating previous minor gains made in 2024.