Intel’s shares are tumbling earlier than markets opened Thursday after President Donald Trump stated in a social media publish that the chipmaker’s CEO must resign.
“The CEO of Intel is very CONFLICTED and should resign, instantly,” Trump posted on Fact Social. “There isn’t a different answer to this downside. Thanks in your consideration to this downside!”
Trump made the publish after Senator Tom Cotton despatched a letter to Intel Chairman Frank Yeary expressing concern over CEO Lip-Bu Tan’s investments and ties to semiconductor corporations which are reportedly linked to the Chinese language Communist Occasion and the Individuals’s Liberation Military.
Cotton particularly referred to as out Tan’s current management of Cadence Design Methods within the letter. The tech firm admitted in July to promoting its merchandise to China’s Nationwide College of Protection Expertise in violation of U.S. export controls.
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“In March 2025, Intel appointed Lip-Bu Tan as its new CEO,” Cotton wrote within the letter. “Mr. Tan reportedly controls dozens of Chinese language firms and has a stake in a whole bunch of Chinese language advanced-manufacturing and chip corporations. No less than eight of those firms reportedly have ties to the Chinese language Individuals’s Liberation Military.”
Intel’s inventory dropped greater than 4% in premarket buying and selling.