U.S. President Donald Trump called on Thursday for Intel's new CEO, Lip-Bu Tan, to "immediately" resign, saying he is "highly conflicted" after questions arose about his alleged ties to Chinese firms.
Trump's comments came after a Republican senator reportedly raised national security concerns over his links to firms in China, a report by Agence France-Presse (AFP) said.
"There is no other solution to this problem," he said in a Truth Social post.
Intel shares were down 3.8%, extending premarket declines.
Intel did not immediately respond to a Reuters request for comment.
In April, Reuters reported that Tan – himself or through venture funds he has founded or operates – has invested in hundreds of Chinese companies, some of which are linked to the Chinese military.
The Intel CEO invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms between March 2012 and December 2024, Reuters found.
Tan came as a replacement for former CEO Pat Gelsinger, who stepped down late last year amid a difficult period for the U.S. chipmaker, which had fallen behind more successful rivals like Nvidia and AMD.
Trump's calls for his resignation came only a week after he dismissed a top official in charge of jobs statistics. The president is also at odds with Federal Reserve (Fed) Chair Jerome Powell, whom he called names after pushing on multiple occasions the central bank to lower interest rates.
