Intel slips as Trump calls for CEO's resignation

Cadence Design Systems

07/08/2025 12:57

** Shares of chipmaker Intel INTC.O fall 4% to $19.68 in premarket trading

** U.S. President Donald Trump said "Intel CEO is highly conflicted and should resign immediately"

** Yesterday, U.S. Republican Senator Tom Cotton sent a letter to Intel questioning about chipmaker's new CEO Lip-Bu Tan's ties to Chinese firms and a recent criminal case involving his former company Cadence Design CDNS.O

** "Express concern about the security and integrity of Intel's operations and its potential impact on U.S. national security," the letter said, questioning whether the company's board was aware of the subpoenas sent to Cadence during Tan's time there as CEO before Intel hired him

** Up to last close, stock had risen 1.8% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))