Intel (INTC), once considered a beacon of American innovation, has shed more than 50% over the past five years. The American chipmaker has struggled to keep up with rivals like Advanced Micro Devices (AMD) and Qualcomm (QCOM) as the AI revolution races forward. Now, President Trump has taken notice and has called for Intel’s CEO to step down.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
“The CEO of INTEL is highly CONFLICTED and must resign, immediately,” Trump said in a Truth Social post on Thursday. “There is no other solution to this problem.”
Trump Takes Aim at Intel CEO’s Ties to Chinese Firms
Intel CEO Lip-Bu Tan took over the reins just a few months ago in March, replacing Pat Gelsinger. Trump’s claim that Tan is “highly conflicted” likely stems from the fact that the CEO has invested at least $200 million in several Chinese chip and manufacturing firms between 2012 and 2024, according to Reuters.
In response, an Intel spokesperson said, “Intel and Tan are deeply committed to the national security of the U.S. and the integrity of our role in the U.S. defense ecosystem.”
INTC stock is down by 2.79% in premarket trading.
