Latest news with #INTEL
Business Times
a day ago
- Business
- Business Times
Intel CEO to visit White House on Monday: WSJ
INTEL CEO Lip-Bu Tan is set to visit the White House on Monday after US President Donald Trump called for his removal last week, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Reuters could not immediately confirm the report. Intel and the White House did not immediately respond to requests for comment. Tan is expected to have an extensive conversation with Trump while looking to explain his personal and professional background, the report said, adding that he could propose ways Intel and the US government could work together, the report added. Tan hopes to win Trump's approval by showing his commitment to the US and guaranteeing the importance of keeping Intel's manufacturing capabilities as a national security issue, the report added. Last week, Trump demanded the immediate resignation of Tan, calling him 'highly conflicted' due to his ties to Chinese firms and raising doubts about plans to turn around the struggling American chip icon. Tan said he shared the president's commitment to advancing US national and economic security. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Trump's intervention marked a rare instance of a US president publicly calling for a CEO's ouster and sparked debate among investors. Reuters reported exclusively in April that Tan invested at least US$200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military. Tan, a Malaysian-born Chinese American business executive, was also the CEO of Cadence Design from 2008 through December 2021, during which the chip design software maker sold products to a Chinese military university believed to be involved in simulating nuclear explosions. Last month, Cadence agreed to plead guilty and pay more than US$140 million to resolve the US charges over the sales, which Reuters first reported. REUTERS
News18
a day ago
- Business
- News18
Why Trump Wants Intel CEO To Step Down, Who Is Lip-Bu Tan?
Lip-Bu Tan, a semiconductor industry veteran born in Malaysia, has built a distinguished career as an executive, investor, and innovator. US President Donald Trump has asked for the resignation of Intel CEO Lip-Bu Tan following reports of his alleged ties to China. 'The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem. Thank you for your attention to this problem!" Trump posted on Truth Social. Trump's demand came just days after Arkansas Republican Senator Tom Cotton raised concerns and pressed the chair of Intel's board over the CEO's alleged connections to China, questioning the integrity of the company and its impact on US national security. The statement tumbled Intel's stock more than 3% in premarket trading the following day as investors grappled with the political pressure on one of America's semiconductor giants. Who Is Lip-Bu Tan? Lip-Bu Tan, a semiconductor industry veteran born in Malaysia, has built a distinguished career as an executive, investor, and innovator. Tam holds a bachelor's degree in physics from Nanyang University in Singapore and a master's degree in nuclear engineering from Massachusetts Institute of Technology (MIT). He also pursued an MBA from the University of San Francisco, according to his LinkedIn profile. In 1987, Tan founded a venture capital firm, Walden International, which focused on investments in technology startups across Asia and the US. His expertise in semiconductors led to his long tenure at Cadence Design Systems, where he served as CEO from 2008 to 2021 and as executive chairman from 2021 until May 2023. Last week, Cadence Design agreed to plead guilty and pay more than $140 million to resolve charges for selling its chip design products to a Chinese military university, as reported by Reuters. The institution was believed to be involved in simulating nuclear blasts. Tan joined Intel's board in 2022 and was appointed as the chief executive officer following the departure of previous CEO Pat Gelsinger. What Triggered The Resignation Demand? The demand for Tan's ouster was ignited by a letter dated August 5, 2025, from Republican Senator Tom Cotton to Intel's board chairman Frank Yeary, raising concerns over Tan's extensive ties to Chinese technology firms. At the heart of the controversy are Tan's longstanding investments in China, which critics argue pose national security risks. Through Walden International, Tan has backed hundreds of Chinese tech startups, including those in AI and semiconductors, some of which have been flagged by the US Treasury for connections to China's military-civil fusion strategy. Compounding these concerns is Cadence Design Systems' recent legal troubles under Tan's prior leadership. In the letter, the senator stated that Tan controls over dozens of Chinese companies and has a stake in hundreds of Chinese advanced-manufacturing and chip firms, of which at least eight are reportedly tied to the Chinese People's Liberation Army. Cotton underlined that illegal activities that occurred in the Cadence Design Systems took place during Tan's tenure and demanded proof that Tan had fully divested from these holdings, especially given Intel's receipt of USD 8 billion in funding under the CHIPS and Science Act to bolster domestic semiconductor production. US citizens can legally hold stakes in Chinese firms, even those linked to the military, unless the companies appear on the US Treasury's Chinese Military-Industrial Complex Companies List, which bans such investments. According to Reuters, the news agency found no evidence that Tan held direct stakes in any firm on that list. The next day, Trump amplified these concerns on Truth Social, declaring Tan 'highly CONFLICTED" and calling for his immediate resignation. In a note to Intel employees on August 7, Tan rebutted the allegations, asserting that he has 'always operated within the highest legal and ethical standards" and emphasising his commitment to the US, where he has lived and worked for decades. Tan addressed the 'misinformation" surrounding his investments, clarifying that he had divested from conflicting interests upon joining Intel and vowing to continue leading the company through its 'critical moment" in innovation and manufacturing. Tan also mentioned ongoing discussions with the Trump administration to clarify facts, underscoring Intel's dedication to American interests amid the scrutiny. 'We are engaging with the Administration to address the matters that have been raised and ensure they have the facts," Tan said. 'I fully share the President's commitment to advancing US national and economic security, I appreciate his leadership to advance these priorities, and I'm proud to lead a company that is so central to these goals," he added. 'Intel, the Board of Directors, and Lip-Bu Tan are deeply committed to advancing U.S. national and economic security interests and are making significant investments aligned with the President's America First agenda," Intel said in a statement. About the Author Surbhi Pathak Surbhi Pathak, subeditor, writes on India, world affairs, science, and education. She is currently dabbling with lifestyle content. Follow her on X: @S_Pathak_11. Get Latest Updates on Movies, Breaking News On India, World, Live Cricket Scores, And Stock Market Updates. Also Download the News18 App to stay updated! tags : donald trump Intel view comments Location : New Delhi, India, India First Published: August 10, 2025, 11:12 IST News explainers Why Trump Wants Intel CEO To Step Down, Who Is Lip-Bu Tan? Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
2 days ago
- Business
- Time of India
Elon Musk, Tim Cook, Lip-Bu Tan and 3 more CEOs that Trump has publicly criticised
Donald Trump President Donald Trump recently took aim at Intel 's leadership, seeking the immediate resignation of company's new CEO Lip-Bu Tan citing his 'highly conflicted' ties to Chinese firms. This marks a rare instance of a president attempting to dictate who leads a private company, though Trump has a history of publicly voicing his complaints about corporate policies. For example, Elon Musk , who spend hundreds of millions of dollars supporting Trump's re-election was called 'crazy'. He even criticised Apple CEO Tim Cook for making US-sold iPhones outside the country. Here's a list of 5 top CEOs that Trump has publicly criticised. LIP-BU TAN, CEO, INTEL In the latest such episode, Trump publicly criticised Intel's CEO following a report in which it was claimed that Lip-Bu Tan had invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms. Some of these companies were reportedly linked to the Chinese military. 'The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem,' Trump wrote on his Truth Social platform. In a statement issued late Thursday, Tan responded to the president's demand. He said he shared Trump's commitment to advancing US national and economic security, and added that Intel's board was 'fully supportive of the work we are doing to transform our company.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like With temperatures hitting 95°F, this is the mini air conditioner everyone's buying in the U.S News of the Discovery Undo ELON MUSK, CEO, TESLA The tech billionaire spent hundreds of millions of dollars to support President Trump's re-election campaign, a move that many investors believed would benefit Musk's business ventures. However, the relationship between the two soured in early June after Musk publicly criticised the administration's new tax-cut and spending bill for its projected impact on federal debt. Trump quickly retaliated on his Truth Social platform, threatening to cut federal subsidies and contracts to Musk's companies and stating that the billionaire 'just went CRAZY.' The feud escalated in early July when Trump suggested that the Department of Justice ("DOGE") should "take a good, hard, look at" Musk's contracts. TIM COOK, CEO, APPLE One of the latest CEOs to face Trump's ire is Apple's Tim Cook – mainly for manufacturing iPhones sold in the US in other countries. In May, Trump recalled a meeting with Cook in Doha, where he said he had confronted the Apple CEO about the company's plans to shift production to India. This conversation took place amid reports that Apple intends to produce most of the iPhones sold in the US at factories in India by the end of 2026. Trump also posted on social media, stating that he had told Cook 'long ago' that he expects 'their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else.' In May, Trump threatened to impose a 25% tariff on Apple products made overseas. However, earlier this week, Trump announced that Apple would invest an additional $100 billion in the US, raising its total domestic commitment to $600 billion over the next four years. SUNDAR PICHAI, CEO, GOOGLE AND ALPHABET Last year, in an interview with Bloomberg, Trump claimed that Google's search results are 'rigged' and biased against him. Trump alleged that the platform prioritises negative stories while making it difficult to find positive ones. He said that he called Google CEO Sundar Pichai. "I called the head of Google the other day and I said, 'I'm getting a lot of good stories lately, but you don't find them in Google'," Trump said According to Trump, Pichai responded by telling him that he is 'the No. 1 person on all of Google for stories.' When asked if Google should be broken up, Trump acknowledged the company's power, saying, "They're very bad to me. Very, very bad to me... I think it's a whole rigged deal." He suggested that instead of a full breakup, the company should be made "more fair." "I'm not a fan of Google," Trump stated. "They treat me badly. But are you going to destroy the company by doing that? What you do is, without breaking it up, is make sure it's more fair." MARK ZUCKERBERG, CEO, META Trump has criticised Mark Zuckerberg multiple times. When Trump was president-elect, he threatened to imprison Zuckerberg, writing: "He told me there was nobody like Trump on Facebook. But at the same time, and for whatever reason, steered it against me. We are watching him closely, and if he does anything illegal this time he will spend the rest of his life in prison — as will others who cheat in the 2024 Presidential Election." 'If you get rid of TikTok, Facebook and Zuckerschmuck will double their business,' Trump wrote on his Truth Social platform. 'I don't want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!' DOUG MCMILLON, CEO, WALMART After Walmart CEO Doug McMillon stated that the company couldn't absorb all tariff-related costs due to thin retail margins, Trump publicly criticised the retailer. 'Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,' Trump said in a social media post. While Trump did not name McMillon personally, he publicly slammed Walmart in May for attributing its price hikes to the tariffs imposed by his administration. 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Time of India
3 days ago
- Automotive
- Time of India
Before Intel, which CEOs drew Trump's ire?
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads US President Donald Trump demanded on Thursday that Intel's Lip-Bu Tan resign immediately, saying that the company's new CEO was "highly conflicted" due to his ties to Chinese Trump's demand marked a rare presidential attempt to determine who leads a corporation, Tan is not the first executive or company to face Trump's ire - the president has been vocal about his complaints concerning corporate policies and operations since he took office in are some prominent CEOs and businesses that Trump has publicly criticized:LIP-BU TAN, CEO, INTEL Trump's demand for the Intel CEO's departure came after Reuters reported exclusively in April that Tan invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military."The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem," Trump said in a post on his Truth Social responded to Trump late on Thursday, saying he shared the president's commitment to advancing U.S. national and economic security and that the Intel board was "fully supportive of the work we are doing to transform our company."The billionaire tech CEO spent hundreds of millions of dollars supporting Trump's re-election, a move investors who bid up Tesla stock expected to benefit Musk's and Musk, however, had a falling out early in June after Musk criticized Trump's sweeping tax-cut and spending bill, because it is projected to increase federal responded to Musk's attack on Truth Social, threatening to cut federal subsidies and contracts to Musk's companies and saying the billionaire "just went CRAZY" after losing the EV mandate in the early July, Trump messaged, "Perhaps we should have DOGE take a good, hard, look at (Musk's contracts)?" Days later, Musk announced the formation of a centrist America Party. The President responded to Musk's move, calling him a "train wreck."Trump has repeatedly targeted Apple and its boss, Cook, for making U.S.-sold iPhones outside the country and has threatened company-specific May, Trump recalled after a meeting in the Qatari capital Doha, that he had confronted Cook about shifting production to India, amid the company's plans to make most of its iPhones sold in the U.S. at factories in India by the end of had said in a social media post that he told Cook "long ago" that "I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else."Trump threatened Apple in May with a 25% tariff on products manufactured overseas. Apple is already reeling from Trump's tariff war, warning that tariffs would add $1.1 billion in costs in the July-September quarter after costing the company $800 million in the June this week, though, Trump announced Apple would invest an additional $100 billion in the U.S., raising Apple's total domestic commitment to $600 billion over the next four years. Cook also gave Trump a U.S.-made souvenir with a 24-karat gold alleged BofA CEO Brian Moynihan and JPMorgan Chase CEO Jamie Dimon discriminated against him and his supporters. In January, Trump accused both Moynihan and Dimon of not providing banking services to conservatives, echoing Republican complaints about the industry."What you're doing is wrong," Trump said, in a video address at the World Economic Forum in Davos, Switzerland. Trump did not cite evidence or specifics of any wrongdoing, in a question-and-answer session with corporate leaders and CEOs assembled on also referenced JPMorgan's Dimon. "You and Jamie and everybody, I hope you're gonna open your bank to conservatives." Trump said in an interview with CNBC earlier this week, "When I called him (Moynihan) after I was president to deposit a billion dollars plus and a lot of other things, more importantly, to open accounts, he said, 'We can't do it. No, we can't do it.'" Both lenders have denied the allegations of "debanking" on multiple Walmart CEO Doug McMillon said that the retailer could not absorb all tariff-related costs because of narrow retail margins, Trump lashed out."Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected," Trump said in a social media Trump did not call out McMillon personally, he publicly criticized Walmart for attributing its price hikes in May to tariffs imposed by his administration. In a social media post, Trump said Walmart and China should "eat the tariffs" and not burden American shoppers. He emphasized that Walmart's financial strength should allow it to shield customers from price criticized Jaguar's recent rebranding effort, calling the campaign "woke" and "stupid," and linking it to the departure of the company's remarks from Trump came as the British carmaker, now owned by India's Tata Motors, announced the retirement of CEO Adrian Mardell, who spent more than three decades at the last year unveiled a new logo and visual identity as part of a broader brand refresh aimed at repositioning itself as an all-electric automaker, a move that drew sharp online backlash and criticism from brand loyalists.
NZ Herald
3 days ago
- Business
- NZ Herald
Intel CEO urged to quit by Trump after senator's China ties warning
President Donald Trump yesterday demanded that the new boss of US chip maker Intel resign 'immediately', after a Republican senator raised national security concerns over his links to firms in China. 'The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem,'
