Shares of Intel declined after President Trump called for the CEO's immediate resignation on social media, citing conflicts of interest. This followed concerns raised by Senator Cotton regarding Lip-Bu Tan's investments in semiconductor firms linked to the Chinese Communist Party. Cotton's letter highlighted Tan's leadership of Cadence Design Systems, which violated U.S. export controls by selling products to China's defense university. Intel benefitted from over $8 billion in funding under the CHIPS Act, increasing scrutiny over its leadership amid U.S.-China economic tensions.
"The CEO of Intel is highly CONFLICTED and must resign, immediately," Trump posted on Truth Social. "There is no other solution to this problem. Thank you for your attention to this problem!"
Sen. Tom Cotton expressed concern over CEO Lip-Bu Tan's investments and ties to semiconductor firms that are reportedly linked to the Chinese Communist Party and the People's Liberation Army.
In March 2025, Intel appointed Lip-Bu Tan as its new CEO. Mr. Tan reportedly controls dozens of Chinese companies and has a stake in hundreds of Chinese advanced-manufacturing and chip firms.
U.S. companies who receive government grants should be responsible stewards of taxpayer dollars and adhere to strict security regulations.
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