In a post on Truth Social, Trump stated that Tan has "serious conflicts of interest" and "must resign immediately with no other options." Intel's stock price dropped 5% in pre-market trading following the post. The company has not yet responded to Trump's demand.

Tan was appointed CEO in March of this year as the company attempts to recover from declining sales under former CEO Pat Gelsinger.

Intel CEO Lip-Bu Tan speaks at the Annual Manufacturing Technology Conference, 29/4. _Reuters_

This week, Republican Senator Tom Cotton raised concerns about Tan's ties to Chinese businesses and a criminal case involving Cadence Design, where Tan served as CEO until 2021.

Cotton sent a letter to Intel's chairman expressing concerns about the company's security and trustworthiness, and the potential risks to US national security. He emphasized Intel's responsibility to use taxpayer money effectively and adhere to security regulations. "Mr. Tan's connections raise questions about Intel's ability to fulfill those obligations," Cotton wrote.

In April, Reuters reported that Tan had invested in numerous Chinese companies, including some with ties to the Chinese military, both directly and through venture capital funds.

Intel's second-quarter financial report showed profits exceeding expectations, but the company also announced cost-cutting measures. Tan said the company will significantly reduce its foundry business, which manufactures chips for external partners and reported a $3.17 billion loss.

The company canceled plans for factories in Germany and Poland and consolidated testing and assembly operations in Vietnam and Malaysia. Tan also stated that Intel will delay construction of its chip manufacturing plant in Ohio.

Quynh Trang (_CNBC_)