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On Thursday, U.S. President Donald J. Trump demanded the resignation of Intel’s CEO Lip-Bu Tan, citing “highly conflicted” ties to Chinese firms. The demand follows a report that revealed Tan’s investments in hundreds of Chinese companies, some linked to the Chinese military. Trump’s statement came after U.S. Senator Tom Cotton (R-AR) sent a letter to Intel’s board chair raising concerns over Tan’s connections to China and a criminal case involving his previous company, Cadence Design. “The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem. Thank you for your attention to this problem!” President Trump wrote in a post on Truth Social, leading Intel shares to drop by approximately 4 percent in premarket trading.