Trump Calls for Intel CEO's Immediate Resignation Over Conflict Concerns

In a surprising turn of events, former President Donald Trump has demanded the resignation of Intel's newly appointed CEO, Lip-Bu Tan. Trump accused Tan of being "highly conflicted" in his current role.

Trump voiced his concerns on Truth Social, stating, "The CEO of INTEL is highly CONFLICTED and must resign, immediately." However, Trump did not provide specific details regarding potential conflicts.

His demand aligns with a letter from Senator Tom Cotton, expressing doubts about the security and integrity of Intel's operations, especially given Tan's connections to China. Notably, Tan has invested in various Chinese tech firms through his venture capital endeavors.

Tan's background prior to Intel includes leadership at Cadence Design Systems, a company recently admitting to a breach of US export laws involving sales to a Chinese university linked to the military.

Following these announcements, Intel's shares experienced a 3% drop during pre-market trading.

Appointed as CEO in March, Tan replaced Pat Gelsinger. Although Intel is the sole U.S.-based producer of advanced semiconductors, it faces challenges, particularly from leading competitor TSMC. Intel's partnership on AI chips has not seen the anticipated growth, despite substantial US financial support to bolster its manufacturing capabilities.

There are ongoing financial strains within Intel, with Tan warning of possible suspension of next-gen tech if external collaborations falter. Such a move could potentially cede chipmaking dominance to TSMC.

"Intel is required to be a responsible steward of American taxpayer dollars," wrote Senator Cotton, highlighting concerns about Tan's affiliations and their implications on Intel's responsibilities.