Intel's stock plummeted after Donald Trump called for CEO Lip-Bu Tan's resignation. Senator Tom Cotton raised concerns about Tan's ties to Chinese firms linked to the military, citing potential conflicts of interest. Cotton's letter to Intel's board followed a Justice Department guilty plea by Cadence Design Systems, where Tan was CEO, for violating export controls. Trump's call for resignation and Cotton's concerns highlight growing US-China tensions over technology and national security, particularly given Intel's receipt of billions in federal funding under the CHIPS Act.

Prepared by Christopher Adams and reviewed by editorial team.