'There has been a lot of misinformation...', Intel CEO defies Trump’s call to quit amid China controversy

Intel CEO Lip-Bu Tan

Intel CEO Lip-Bu Tan is making it clear he has no plans to step down, despite former President Donald Trump’s public call for his resignation over alleged “deeply conflicted” ties to China.

The controversy stems from Tan’s previous role as CEO of Cadence Design Systems, which recently pleaded guilty to Justice Department charges over sales of chip-design products to a Chinese military university. A Reuters investigation earlier this year also reported that Tan had invested in hundreds of Chinese tech firms, including several linked to China’s People’s Liberation Army.

Those findings prompted at least two Republican senators to question Tan’s suitability as Intel’s leader. Trump’s remarks yesterday intensified the scrutiny, adding to existing friction between Tan and Intel’s board over the company’s direction.

In a letter to employees — later posted publicly — Tan rejected the allegations, calling them “misinformation” and emphasizing his long-standing ties to the US. “The United States has been my home for more than 40 years. I love this country and am profoundly grateful for the opportunities it has given me,” he wrote. “I have always operated within the highest legal and ethical standards.”

Tan reiterated his commitment to both Intel and US national interests, stressing that the company is in active discussions with the White House to clarify the facts. “I fully share the President’s commitment to advancing US national and economic security,” he said, while noting that Intel plays a central role in the nation’s technological and manufacturing leadership.

Intel’s board is standing by Tan for now, voicing full support for his leadership and the company’s ongoing transformation. Tan pointed to upcoming milestones, including the ramp-up to high-volume manufacturing using the most advanced U.S.-based semiconductor process technology later this year.

Market reaction was mixed. Intel shares fell 3% after Trump’s comments, slid further early Thursday, but recovered to close 0.9% higher. Even so, the stock remains 23% below the post-spike high following Tan’s appointment.

For now, Tan appears determined to weather the political storm, framing the episode as a distraction from Intel’s mission. “Our opportunity is enormous,” he told employees. “I’m proud to be on this journey with you.”