US President Donald Trump Demands Immediate Resignation Of Intel CEO Amid China Connection Controversy
In a post on his social media platform, Truth Social, US President Donald Trump said, "Intel's CEO is extremely confused and should resign immediately. There is no other solution to this problem. Thank you for paying attention to this problem!"
Intel Shares Fall
After Trump's statement, Intel shares also started to decline. Intel shares have fallen. So far, there has been a decline of about 5% in pre-market trading.
US Senator Raised Questions
Recently, US Senator Tom Cotton has written a letter to Intel raising questions about Lip Bu Tan's relationship with Chinese companies. Reportedly, in this letter, he has questioned Tan's investment in China's semiconductor companies, his relationship with the Communist Party and the military. Not only this, Cotton has also mentioned in his letter that Intel has been given a full $ 8 billion fund from the US government under the CHIPS Act. In such a situation, such relations of the CEO of the company become a matter of concern for the security of the country. Only after this, Trump has now asked Tan to resign immediately.
Tan's China Connection
In April this year, a report came out that said that Tan or his venture firms have invested about $2 billion in several advanced chip and manufacturing companies in China. Many of these companies are also linked to the Chinese military. On the other hand, sources also claimed that Tan has now withdrawn from these companies. However, now, once again, questions are being raised about his relationship with China.
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