Intel stock dropped over 3% Thursday after President Trump called for CEO Lip-Bu Tan to resign, citing past business ties to China, according to The Wall Street Journal. Trump posted on Truth Social that Tan is "highly conflicted" and must step down immediately. The call follows an open letter from Senator Tom Cotton raising concerns over Tan’s alleged links to Chinese military-backed entities and prior export violations by Cadence Design Systems, where Tan was previously CEO. Intel, which has received billions in federal subsidies to expand domestic production, defended Tan’s leadership and reiterated its commitment to U.S. national security. Analysts warned that the political pressure could further destabilize Intel, which has lost nearly 60% of its value since last year amid mounting competition and delays in AI development.
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