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.

Intel was a big winner in former President Joe Biden’s CHIPS Act, which doled out billions in grants to help strengthen the U.S.’s semiconductor capabilities. But Trump has instead focused on tariffs to incentivize domestic manufacturing and Commerce Secretary Howard Lutnick has said Trump is reworking some of the CHIPS Act deals.

A change in leadership could pile pressure on the company as it pushes through a major strategic reset that Lip-Bu Tan started.