Intel's (INTC) new chief executive officer, Lip-Bu Tan, and the company's board members have had disagreements about whether the chipmaker should remain in the manufacturing business, the Wall Street Journal reported Thursday, citing people familiar with the matter.
Tan's recent attempts to conduct capital raising and buy an artificial-intelligence company have been stalled by board members, the WSJ report said.
The report notes that the disagreements between Tan and the board predate calls for resignation from President Trump, who claimed that the CEO is conflicted by alleged links to Chinese companies.
In a letter to staff on Thursday, Tan said that he has the full support of the board and notes that the company is working with the US government "to address the matters that have been raised and ensure they have the facts.
"I fully share the President's commitment to advancing U.S. national and economic security," he said.
Intel shares were up 1.1% in recent Friday premarket activity after closing more than 3% lower on Friday.
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