Washington: US chipmaker Intel's CEO Lip-Bu Tan responded Thursday to the recent controversy and US President Donald Trump's call for his resignation over his alleged ties to Chinese companies with military connections, saying they are "engaging with the Administration to address the matters that have been raised and ensure they have the facts."
According to Anadolu Agency, Tan, a naturalized US citizen born in Malaysia and raised in Singapore, expressed his dedication to the United States, stating, "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. I also love this company. Leading Intel at this critical moment is not just a job - it's a privilege."
Tan addressed the misinformation circulating about his previous roles at Walden International and Cadence Design Systems, emphasizing his adherence to legal and ethical standards throughout his career. "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. 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," he said.
He also conveyed his alignment with Trump's commitment to advancing US national and economic security.
On Thursday, Trump demanded that the CEO resign "immediately" due to alleged ties to Chinese companies with military affiliations. "The CEO of INTEL is highly CONFLICTED and must resign, immediately," Trump wrote on Truth Social. "There is no other solution to this problem," he added.
The demand from Trump followed concerns regarding Tan's reported investments in Chinese semiconductor firms allegedly connected to the Chinese Communist Party and People's Liberation Army. Republican Senator Tom Cotton echoed these concerns, questioning Tan's ability to fulfill obligations under US government grants like the CHIPS Act due to his connections with China.
Cotton highlighted in a letter to Intel's board that Tan, who assumed the CEO position in March, has control over dozens of Chinese companies and stakes in numerous Chinese advanced-manufacturing and chip firms, some of which allegedly have military ties. Cotton also noted Tan's leadership at Cadence Design Systems, which recently admitted to illegally selling export-controlled American technologies to Chinese military-linked entities.
Following the news, Intel's shares experienced a 3.14% drop by Thursday's close.