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Intel shares plunge by more than 5% as Trump calls for resignation of the company's CEO

According to the Axios news portal, the US leader is demanding the resignation of the head of Intel due to concerns about Lip-Bu Tan's alleged ties to Chinese companies that cooperate with the Chinese Communist Party

MOSCOW, August 7. /TASS/. Shares of the US technology corporation Intel plunged by more than 5% during the premarket on the Nasdaq electronic exchange, according to data from the trading platform.

This dynamic was noted after US President Donald Trump had called on Intel CEO Lip-Bu Tang (Chinese name - Chen Liwu) to resign.

As of 11:58 a.m. GMT, the company's shares fell by 5.05%, to $19.38 per share. By 01:30 p.m. GMT, at the beginning of the main trading session, the shares slowed the decline and were at $20 per share (-2.01%).

According to the Axios news portal, Trump is demanding the resignation of the head of Intel due to concerns about Lip-Bu Tan's alleged ties to Chinese companies that cooperate with the Chinese Communist Party (CCP).

Lip-Bu Tan took over as head of Intel in 2025. He replaced Pat Gelsinger, who left the post in December 2024 amid the company's deteriorating financial performance and a drop in its stock price due to increased competition with other semiconductor manufacturers.