President Donald Trump on Thursday called for the immediate resignation of Intel’s new CEO, Lip-Bu Tan, accusing him of being “highly conflicted” due to extensive investments in Chinese technology and chip companies, including some tied to the Chinese military.
Reuters reported in April that Tan, through venture funds he founded or operates, invested at least $200 million in hundreds of Chinese firms between 2012 and 2024. Records show 20 of those ventures were jointly owned with Chinese government funds, many from tech hubs such as Hangzhou, Hefei, and Wuxi. A source previously told Reuters Tan has since divested from Chinese entities, though details remain unclear.
Trump’s comments followed a report that Republican Senator Tom Cotton pressed Intel’s board on Tan’s China ties and a criminal case involving Cadence Design, where Tan served as CEO until 2021. Cadence last month agreed to plead guilty and pay $140 million over sales to a Chinese military university involved in nuclear simulation.
“The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump wrote on Truth Social. Intel shares fell 3% on Thursday. The company, recipient of $8 billion in CHIPS Act subsidies last year, said it is “deeply committed” to US national and economic security and will continue engaging with the administration.
Tan, a Malaysian-born Chinese American, took over as CEO in March and has yet to comment publicly on the matter. Trump’s intervention marks a rare instance of a US president openly calling for the ouster of a corporate leader, fueling debate over political involvement in private-sector governance.
