Latest news with #TanLipBu
CNA
12-08-2025
- Business
- CNA
Trump holds high-stakes meeting with Intel CEO Tan Lip-Bu after calling for his resignation
US President Donald Trump said he met with Intel CEO Tan Lip-Bu on Monday (Aug 11), days after seeking his resignation, praising Tan and calling the meeting "a very interesting one". Shares of the chipmaker rose 3 per cent in extended trading. Last week, Trump had demanded the immediate resignation of Tan, calling him "highly conflicted" over his ties to Chinese firms, injecting uncertainty into the chipmaker's years-long turnaround effort. Trump said he met with Tan, along with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. His Cabinet members and Tan were going to bring suggestions to him next week, Trump said in a post on Truth Social. "His success and rise is an amazing story," Trump said about Tan. Tan had invested in hundreds of Chinese firms, some of which were linked to the Chinese military, Reuters reported exclusively in April. It is not illegal for US citizens to hold stakes in Chinese companies unless they have been added to the US Treasury's Chinese Military-Industrial Complex Companies List, which explicitly bans such investments. Tan has been tasked to undo years of missteps that left Intel struggling to make inroads in the booming AI chip industry dominated by Nvidia, while investment-heavy contract manufacturing ambitions led to hefty losses. In the roughly six months as Intel CEO, Tan made major strategic shifts that included divesting assets, laying off employees and redirecting resources. But the demand for Tan's resignation will only distract him from that task, investors and a former senior employee have told Reuters.
Free Malaysia Today
11-08-2025
- Business
- Free Malaysia Today
Intel CEO to visit White House today, WSJ reports
Intel CEO Tan Lip-Bu said he shares the US president's commitment to advancing national and economic security. (EPA Images pic) WASHINGTON : Intel CEO Tan Lip-Bu is set to visit the White House today after US president Donald Trump called for his removal last week, the Wall Street Journal reported yesterday, 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. 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.
CNA
10-08-2025
- Business
- CNA
Intel CEO Tan Lip-Bu to visit White House on Aug 11: Report
Intel CEO Tan Lip-Bu is set to visit the White House on Monday (Aug 11) 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. In a note sent to all Intel Corporation employees last Thursday, he said that the company was " engaging with the administration to address the matters that have been raised and ensure they have the facts". He took the helm at Intel in March. Last week, Trump demanded the immediate resignation of Tan, calling him "highly conflicted" due to his ties to Chinese firms through several investments and raising doubts about plans to turn around the struggling American chip icon. Intel's niche has been chips used in traditional computing processes, which are steadily being eclipsed by the AI revolution Tan said he shared the president's commitment to advancing US national and economic security. 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, founded venture capital firm Walden International in 1987. Through the company, he became a seed investor in Semiconductor Manufacturing International Corp, China's largest chip foundry. Tan, who was raised in Singapore, 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. Tan also said in his note that there had been "a lot of misinformation circulating" about his past roles at Walden International and Cadence Design Systems, and that he had "always operated within the highest legal and ethical standards".
CNA
08-08-2025
- Business
- CNA
Intel CEO Tan Lip-Bu 'engaging' with US government to clarify concerns after Trump demands resignation
SINGAPORE: Intel CEO Tan Lip-Bu said that the company is engaging with the United States administration after President Donald Trump demanded his resignation over concerns about his ties to Chinese firms through several investments. "We are engaging with the administration to address the matters that have been raised and ensure they have the facts," Tan said in a note sent to all Intel Corporation employees on Thursday (Aug 7). He said there has been "a lot of misinformation circulating" about his past roles at Walden International and Cadence Design Systems. "I want to be absolutely clear: Over 40+ years in the industry, I've built relationships around the world and across our diverse ecosystem - and I have always operated within the highest legal and ethical standards," Tan added. "My reputation has been built on trust – on doing what I say I'll do, and doing it the right way. This is the same way I am leading Intel." Walden International, a venture capital firm, was founded by Tan in 1987. Through the company, he became a seed investor in Semiconductor Manufacturing International Corp, China's largest chip foundry. From 2009 to 2021, Tan was the CEO of Cadence Design Systems, a chip design software firm. Trump on Thursday demanded that Tan resign "immediately" after Republican Senator Tom Cotton raised national security concerns over his links to firms in China. Cotton alleged that Tan controls dozens of Chinese companies and holds stakes in hundreds of Chinese advanced manufacturing and chip firms. The US senator also noted that Cadence Design Systems recently "pleaded guilty to illegally selling its products to a Chinese military university". While heading the company, Tan transferred "its technology to an associated Chinese semiconductor company without obtaining licences", Cotton said. The Malaysia-born tech industry veteran was raised in Singapore and is now a naturalised American citizen. In his note to employees, Tan said the US has been his home for more than 40 years and he is "profoundly grateful for the opportunities" it has given him. Intel's success is essential to US technology and manufacturing leadership, national security and economic strength, Tan said "I fully share the president's commitment to advancing US national and economic security," he added. "I appreciate his leadership to advance these priorities, and I'm proud to lead a company that is so central to these goals." Tan also said that the Intel board is "fully supportive" of the work that his team does to transform the company. Intel is one of Silicon Valley's most iconic companies, but its fortunes have been dwarfed by Asian powerhouses TSMC and Samsung, which dominate the made-to-order semiconductor business. Tan took the helm at struggling Intel in March. He has previously said it "won't be easy" to overcome challenges faced by the company. The company was also caught by surprise with the emergence of Nvidia as the world's preeminent AI chip provider.
CNA
08-08-2025
- Business
- CNA
Intel CEO Tan Lip-Bu says he is working with US government to clarify concerns after Trump demands resignation
SINGAPORE: Intel CEO Tan Lip-Bu said that his company is working with the United States administration after President Donald Trump demanded his resignation. "We are engaging with the administration to address the matters that have been raised and ensure they have the facts," Tan said in a note sent to all Intel Corporation employees on Thursday (Aug 7). Trump had on Thursday demanded that Tan resign "immediately" after Republican Senator Tom Cotton raised national security concerns over his links to firms in China. Cotton alleged that Tan controls dozens of Chinese companies and holds stakes in hundreds of Chinese advanced manufacturing and chip firms. The US senator also noted Tan's role as the previous head of Cadence Design Systems, which he said recently "pleaded guilty to illegally selling its products to a Chinese military university". While serving in that role, Cotton said that Tan transferred "its technology to an associated Chinese semiconductor company without obtaining licences". In his note, Tan, a Malaysia-born tech industry veteran, said that there has been "a lot of misinformation" about his previous roles at Walden International and Cadence Design Systems. "I want to be absolutely clear: Over 40+ years in the industry, I've built relationships around the world and across our diverse ecosystem - and I have always operated within the highest legal and ethical standards," Tan said. "My reputation has been built on trust - on doing what I say I'll do, and doing it the right way. This is the same way I am leading Intel." In 1987, Tan founded venture capital firm Walden International. From 2009 to 2021, he was the CEO of Cadence Design Systems, a chip design software firm. Tan was raised in Singapore and is now a naturalised American citizen. Tan said that the US has been his home for more than 40 years and he is "profoundly grateful for the opportunities it has given" him. Intel's success is essential to US technology and manufacturing leadership, national security and economic strength, Tan added. "I fully share the president's commitment to advancing US national and economic security," he said. "I appreciate his leadership to advance these priorities, and I'm proud to lead a company that is so central to these goals." Tan also said that the Intel board is "fully supportive" of the work that his team does to transform the chip maker company. He said: "It's especially exciting to see us ramping toward high-volume manufacturing using the most advanced semiconductor process technology in the country later this year." "It will be a major milestone that's a testament to your work and the important role Intel plays in the US technology ecosystem," Tan said.
