US President Donald Trump last week said Intel CEO Lip Bou Tan was “very conflicted” due to his relationship with Chinese companies.
Intel CEO Lip-Bu Tan is scheduled to visit the White House after US President Donald Trump called for him to be removed last week.
The Tech Giant executives are scheduled to meet the president on Monday, a source familiar with the matter told Reuters.
Neither Intel nor the White House immediately responded to requests for comment.
According to the Wall Street Journal (WSJ), Tan is expected to have extensive conversations with Trump while trying to explain his personal and professional background, and he broke the news on Sunday, adding that he could suggest ways Intel and the US government could work together.
Tan hopes to win Trump’s approval by showing his commitment to the US and ensuring the importance of maintaining Intel’s manufacturing capabilities as a national security issue, the WSJ added.
Last week, Trump called for Tan’s immediate resignation, calling him “very conflicted” due to his relationship with Chinese companies, and commenting that raised doubts about Tan’s plan to turn the struggling US chip icon around.
This was a rare example of the US president’s public appeal for the expulsion of CEOs, sparking debate among investors.
Tan said he shared the president’s commitment to promoting national and economic security in the United States.
In April, Reuters reported that TAN invested at least $200 million in hundreds of billions of dollars in Chinese military and chip companies, some of which were linked to the Chinese military.
A Malaysian-born Chinese-American business executive, Tan was also CEO of Cadence Design from 2008 to December 2021. Meanwhile, chip design software makers sold their products to China Military University, which is believed to be involved in simulations of nuclear explosions.
Last month, Cadence pleaded guilty and agreed to pay more than $140 million, and settled a US claim for sale.
Intel stocks surged before the meeting. The companies trading under the ticker INTC are up more than 7.5% per day at noon (16:00 GMT) in New York.
