Trump Demands Intel CEO Resign Over China Investments
President Donald Trump demands Intel CEO Lip-Bu Tan to step down because of his previous investments in Chinese technology firms that include military-linked companies. The Truth Social post from Trump on Thursday demanded Tan's resignation after Senator Tom Cotton questioned his Chinese financial connections and the criminal case against his former company Cadence Design.
The stock price of Intel decreased by 2% following Trump's public declaration. Tan took the CEO position in March and has invested more than $200 million in Chinese semiconductor and manufacturing companies through his venture firm Walden International.
The controversy surrounding Tan's Chinese investments creates increased political risks for Intel because the company leads U.S. efforts to bring semiconductor manufacturing back home.
Intel receives $8 billion in CHIPS Act subsidies while playing a vital role in the national effort to bring semiconductor manufacturing back to the United States. The company stated its dedication to U.S. national security but refused to provide additional information.
The analysts disagreed about Trump's decision. The move established a concerning pattern of political control over corporate leadership according to some experts but others viewed it as a natural extension of the administration's strong efforts to reduce Chinese technology dependence.
Dominic Maley is an American journalist recognized for his sharp and insightful reporting on social and political issues. His work is known for its depth, integrity, and the ability to highlight critical societal concerns.