Intel so far is standing by Tan. The company issued a statement Thursday that said the company, the board and Tan are all “deeply committed to advancing U.S. national and economic security interests and making significant investments aligned with the President’s America First agenda.”

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.

U.S. President Donald Trump on Thursday demanded the immediate resignation of new Intel CEO Lip-Bu Tan, calling him "highly conflicted" due to his ties to Chinese firms and raising doubts about plans to turn around the struggling American chip icon.