Trump Calls for Intel CEO Lip Bu Tans Resignation Over China Ties
Trump Urges Intel CEO Lip-Bu Tan to Resign Over China Links
WASHINGTON – Former U.S. President Donald Trump has called for the immediate resignation of Intel CEO Lip-Bu Tan, citing concerns over his investments in Chinese firms, including companies tied to the Chinese military.
Trump’s remarks came a day after Reuters reported that Republican Senator Tom Cotton had written to Intel’s board chair, raising questions about Tan’s ties to China and a recent criminal case involving his former company, Cadence Design.
“The CEO of Intel is highly CONFLICTED and must resign, immediately. There is no other solution to this problem,” Trump wrote on his Truth Social platform. Following the statement, Intel shares closed down 3% on Thursday.
A change in leadership could place further strain on Intel, which plays a central role in U.S. efforts to expand domestic chip production. The company received $8 billion in subsidies last year under the 2022 CHIPS Act to build new factories in Ohio and other states.
Trump’s public demand is unusual for a U.S. president and sparked debate among investors. “It would set a very unfortunate precedent… but certainly his opinion has merit and weight,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.
David Wagner, head of equity at Intel shareholder Aptus Capital Advisors, noted that while many believe Trump gets involved in too many issues, his stance signals a serious push to bring manufacturing back to the United States.
Intel defended Tan in a statement, saying the company, its board, and the CEO are “deeply committed to advancing U.S. national and economic security interests” and are making investments in line with the “America First” agenda.
Tan, who became Intel’s CEO in March, has not responded to requests for comment.
In April, Reuters reported that Tan invested at least $200 million—personally and through his venture capital firm Walden—in hundreds of Chinese manufacturing and chip companies, including suppliers for the People’s Liberation Army. Corporate records show Walden co-owns 20 entities with Chinese government funds or state-owned enterprises, primarily in tech hubs like Hangzhou, Hefei, and Wuxi.
A source told Reuters earlier this year that Tan has since divested his Chinese holdings, though details were not provided.
Tan, a Malaysian-born Chinese American, previously served as CEO of Cadence Design from 2008 to 2021. During his tenure, Cadence sold software to a Chinese military university linked to nuclear weapons research. Last month, Cadence agreed to plead guilty and pay over $140 million to settle U.S. charges over those sales.
Bernstein analyst Stacy Rasgon said Tan’s China connections are damaging his public image but stressed, “We don’t believe Lip-Bu is conflicted.” Rasgon noted that, unlike some tech leaders, Tan appears not to have developed a personal relationship with Trump that could ease tensions.
The White House said Trump remains committed to ensuring that American companies in strategic sectors are “led by men and women who Americans can trust.”
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