Intel's CEO Lip-Bu Tan speaks astatine the company's Annual Manufacturing Technology Conference successful San Jose, California, U.S. April 29, 2025.
Laure Andrillon | Reuters
Intel shares were nether unit Thursday aft President Donald Trump called for the chipmaker's CEO to resign immediately.
In a Truth Social post, Trump said Intel Chief Executive Lip-Bu Tan "is highly CONFLICTED and indispensable resign, immediately. There is nary different solution to this problem." Intel dropped successful the premarket connected the backmost of that post, past trading much than 4% lower.
INTC drops
Tan was named arsenic Intel CEO successful March. This week, U.S. Republican Senator Tom Cotton questioned his ties to Chinese companies and referenced a past transgression lawsuit involving Cadence Design, wherever Tan was CEO until 2021, Reuters reported.
Cotton wrote to Intel's chair to "express interest astir the information and integrity of Intel's operations and its imaginable interaction connected U.S. nationalist security," Reuters said.
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