Republican Sen. Tom Cotton wrote a letter to Intel’s board with questions about CEO Lip-Bu Tan’s ties to Chinese firms.

Lip-Bu Tan began working as Intel CEO in March. Since then, he scaled back projects and reduced headcount in efforts to rightsize the chip maker.

Bu Tan to resign on Thursday, prompting a slide in the technology company's stock."The CEO of Intel is highly CONFLICTED and must resign, immediately," Mr. Trump posted on Truth Social, without providing additional details.