Intel’s Stock Tumbles After Trump Says Its CEO Must Resign

Intel is facing a stock plunge as President Donald Trump called for the resignation of the chipmaker’s CEO, Lip-Bu Tan. Trump took to Truth Social to express his belief that Tan is conflicted and must step down immediately. This comes after Senator Tom Cotton raised concerns about Tan’s investments and connections to Chinese semiconductor companies linked to the Chinese Communist Party and the People’s Liberation Army. Cotton specifically pointed to Tan’s leadership of Cadence Design Systems, which admitted to violating U.S. export controls by selling products to China’s National University of Defense Technology.

“In March 2025, Intel appointed Lip-Bu Tan as its new CEO,” Cotton wrote in a letter to Intel Chairman Frank Yeary. “Mr. Tan reportedly controls dozens of Chinese companies and has a stake in hundreds of Chinese advanced-manufacturing and chip firms. At least eight of these companies reportedly have ties to the Chinese People’s Liberation Army.”

Following these developments, Intel’s shares dropped over 4% in premarket trading, signaling investor concern over the company’s leadership and potential ties to controversial entities.