Intel CEO to visit White House today
What's the story
Intel's CEO, Lip-Bu Tan, will visit the White House today, according to The Wall Street Journal. The meeting comes after US President Donald Trump publicly called for his resignation last week. Tan, who was the former CEO of Cadence Design Systems, hopes to explain his background and propose potential collaborations between Intel and the US government during this meeting.
Assurance
Strategy to gain Trump's favor
Tan aims to win Trump's approval by showing his commitment to the US and emphasizing the importance of Intel's manufacturing capabilities as a national security issue. Last week, Trump demanded Tan's resignation, calling him "highly conflicted" due to his ties with Chinese firms. Trump also expressed skepticism about Tan's past actions and investments related to the struggling American chip industry.
Background
Controversial investments and past actions
Tan has invested at least $200 million in several Chinese advanced manufacturing and chip firms, some of which have ties to the Chinese military. He was also the CEO of Cadence Design from 2008 to December 2021. During his tenure, the chip design software maker sold products to a Chinese military university believed to be involved in simulating nuclear explosions.
Information
Cadence's legal settlement
Last month, Cadence agreed to plead guilty and pay over $140 million to settle US charges over its sales. Tan is a Malaysian-born Chinese American business executive who now faces Trump's scrutiny as he prepares for his White House visit.