Intel CEO Lip-Bu Tan responded to criticism from U.S. President Donald Trump regarding his work at the company and alleged conflicts of interest.
Tan's Response to Trump's Remarks
In a staff letter released Thursday, Lip-Bu Tan stated that Intel is working with the Trump administration to resolve the raised issues. He emphasized his dedication to the U.S., noting that in over 40 years in the industry, he has always adhered to 'the highest legal and ethical standards.'
Tan's Investments and China Links
Trump's criticism followed a letter from Senate Intelligence Committee Chairman Tom Cotton to the Intel board, expressing concerns about the company's security and Tan's connections to China. Tan referenced his investments exceeding $200 million in Chinese companies, including the country's largest chipmaker, Semiconductor Manufacturing International Corp (SMIC).
Changes at Intel Under Tan's Leadership
Since Tan took over at Intel, broad cost-cutting measures have been implemented. Recently, he cautioned that the development of next-generation manufacturing technology could be halted without securing a large customer order. Intel also secured $8 billion through the CHIPS Act, the largest grant provided to a single company to enhance domestic manufacturing.
Despite criticism and pressure from Wall Street, Lip-Bu Tan expressed his attachment to the U.S., where he has lived for over 40 years, and highlighted his appreciation for the opportunities provided by the country.
