Overview

• President Donald Trump demanded on Truth Social that Lip-Bu Tan step down immediately, labeling his position highly conflicted.
• The call followed Senator Tom Cotton’s letter raising alarms over Tan’s stakes in dozens of Chinese chipmakers, including at least eight linked to the People’s Liberation Army.
• Cadence Design Systems, which Tan led until 2021, admitted in July to violating U.S. export controls by selling products to China’s National University of Defense Technology.
• Intel shares fell over 4% in premarket trading as investors weighed governance disputes and security concerns.
• Lawmakers are expected to intensify scrutiny of Tan’s China ties as the U.S. pursues domestic semiconductor production under the CHIPS Act.