Trump said on his Truth Social platform that Lip-Bu Tan was "highly conflicted", but did not elaborate. The president was seemingly accusing Tan of holding problematic ties with the Chinese Communist party.

Intel stock dropped 4% soon after Trump's post. Shares entered Thursday up less than 2% this year. Tan assumed the CEO role at the struggling chipmaker in March. Late last month, it was reported that Intel was looking to spin off its networking unit as it moves to shed assets under Tan.

Intel CEO Lip-Bu Tan is in the political crosshairs, with Trump calling for his resignation over his reported investment ties to the Chinese military.