Concerns have been raised regarding Intel CEO Tan's ties to Chinese companies connected to the Communist Party and military. Senator Tom Cotton has urged Intel's board to consider these ties, particularly in light of an $8 billion grant from the CHIPS Act. Despite Tan's recent appointment and Intel reporting better-than-expected revenue, the company's stock fell nearly 5% in premarket trading following calls for his resignation, as financial markets reacted to the situation.
The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem.
Sen. Tom Cotton raised concerns about Tan's purported ties to Chinese companies with links to the Communist Party and the Chinese military.
Cotton specified the $8 billion grant Intel received under the CHIPS Act, stating Tan's China links "raise questions about Intel's ability to fulfill these obligations."
Intel shares fell almost 5% in premarket trading after the demand for Tan's resignation, despite a rally in most chip stocks.
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