Overview

• On Truth Social, President Trump argued that Tan’s past stakes in Chinese firms create an unacceptable conflict of interest and called for his immediate resignation.
• Senator Tom Cotton’s letter to Intel’s board asserts that Tan controls dozens of Chinese companies, including eight linked to the military, and sets a mid-August deadline for a response.
• A Reuters investigation found Tan invested at least $200 million in hundreds of small Chinese firms between 2012 and 2024, though no laws were shown to be broken.
• Since his March appointment, Tan has pushed a turnaround plan at Intel that includes cutting over 20 percent of the workforce and canceling the Magdeburg chip plant amid ongoing losses and delays.
• Intel’s shares swung sharply in pre-market trading, initially rising then falling by about 3 to 4 percent after Trump’s resignation demand.