Intel shared the slide after Trump’s CEO, Lip-Bu Tan, demanded an immediate resignation
Intel Corporation faced a sharp market reaction Thursday after former U.S. President Donald Trump openly requested the resignation of CEO Lip-Bu Tan. He cited alleged conflicts of interest related to Chinese investments.
What happened?
In a post on Truth Social, Trump said:
After this post, Intel’s stock fell about 5% in premarket trading.
The demand, posted on Trump’s Truth Social platform on Thursday (August 7), comes days after US Senator Tom Cotton sent a letter to the US chipmaker’s board chairman seeking clarification about the new CEO and his alleged ties to Chinese companies.
Intel’s CEO is extremely contentious and ought to step down without delay. No alternative exists for resolving this issue. “Thanks for highlighting this issue!” Trump indicated in a communication on Truth Social. After the announcement, Intel stock declined by 5% in pre-market trading.
Who is Lip-Bu Tan?
In March 2025, Tan became CEO of Intel, taking over from Pat Gelsinger at the time of a decline in sales and strategic reorganization. Earlier, Tan was the CEO of the Rhythm Design System by 2021. The company was later involved in a criminal case related to sales in China.
More detail about Lip-Bu Tan from Wikipedia
National security concerns
The controversy grew earlier this week when Senator Tom Cotton (R-Ark.) sent a letter to Intel’s Board Chair, questioning Tan’s connections to Chinese companies. Cotton raised concerns about Tan’s investments in firms supposedly linked to the Chinese Communist Party and the People’s Liberation Army, either directly or through venture capital funds. Cotton wrote:
Intel strategic tricks
Q2 is undergoing significant reorganization under the leadership of Intel Tan, despite beating the expectations of earnings in 2025:
• CHIP fabrication projects in Germany and Poland canceled
• Combined tests and assembly processes in Vietnam and Malaysia
• Progressive establishment of an important semiconductor plant in Ohio
Lip-Bu Tan assumed the role of CEO of the semiconductor powerhouse in March, stepping in at a moment when the company was facing challenges in rebounding from a downturn in sales experienced during the leadership of his predecessor, Pat Gelsinger.
US Senator writes to Intel board regarding CEO Lip-Bu Tan’s ‘connections to China.’
Trump’s call for resignation follows Senator Cotton’s recent worries regarding Tan’s supposed connections to Chinese firms. Senator Cotton also referenced a recent legal case related to Cadence Design, a company that Tan led as CEO until 2021
