Allegations of conflict spark political and market reaction
Former US President Donald Trump on Thursday called for the resignation of Intel’s new CEO, Lip-Bu Tan, citing what he described as serious conflicts of interest due to Tan’s financial ties with Chinese companies. In a post on Truth Social, Trump stated, “There is no other solution to this problem,” demanding that Tan step down immediately. Following the statement, Intel shares fell 3.8%, deepening earlier premarket losses.
Concerns over China-linked investments
The call for Tan’s resignation comes amid renewed scrutiny over his financial links to China. A Reuters investigation in April revealed that Tan, either directly or through venture funds he controls, has invested in hundreds of Chinese companies.
Some of these firms are reportedly tied to China’s military and advanced technology sectors. Between March 2012 and December 2024, Tan invested at least $200 million in Chinese chip and advanced manufacturing companies, according to the report.
Intel has not responded to Reuters’ request for comment on the matter.
Broader implications for tech and politics
Lip-Bu Tan’s leadership at Intel was expected to strengthen its position in the global semiconductor industry. However, growing US-China tensions and concerns about technological security have placed tech executives under increasing political pressure.
Tan’s reported investment history has now become a flashpoint, especially at a time when US lawmakers are pushing for tighter restrictions on foreign influence in critical industries like semiconductors.
with inputs from Reuters
