“Semiconductor Smear Campaign: Trump’s Intel Extortion & the Racism Undercurrent”
In this today’s blistering dispatch:
- Trump’s Carbon-Football-Field-Sized Grab for IntelPresident Trump has orchestrated an unprecedented power play — converting over $8.9 billion in CHIPS and federal funds into a 9.9–10% equity stake in Intel, procured at a discounted $20.47/share, with no board control or voting rights for the government. The U.S. is now among Intel’s largest shareholders.This is not just an investment; it’s a demand dressed in patriotic rhetoric — the ultimate shakedown of a private company under threat of public pressure and regulatory hang‑up.
- Lip‑Bu Tan: From Target to PawnIntel’s CEO, Lip‑Bu Tan, a Malaysian-born American tech veteran, has become the latest target of racism‑fueled political theater. Trump and Senator Tom Cotton branded him “highly conflicted,” suggesting his past Chinese investments—and his previous leadership at Cadence (which settled export‑violation charges)—make him unfit to helm America’s chip hope.The message is clear: under Trump’s administration, being an immigrant (or appearing to have ties abroad) means you’re suddenly suspect—no nuance, no understanding of global business, just prejudice masquerading as security.
- The Racism That Won’t Stay HiddenObservers in Malaysia and Singapore called out the Intel‑Tan smear as “a usual case of racism in the U.S. against immigrants of Chinese descent”—a canned narrative when a brown face climbs too high. It’s no accident that a Southeast Asian American, with decades of U.S. citizenship and a golden résumé, becomes a target when Trump wants to show muscle.
- Tan Held the LineUnder immense pressure, Tan refused to cave. He defended his leadership as ethical and transparent, highlighting his four-decade track record and the board’s continued support. After meeting with Trump and top officials—including Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent—Trump softened his tone, calling Tan “a very nice man” and “somewhat a victim.” Shares rebounded.But make no mistake: the deal remains coercive—this was corporate blackmail veiled as bipartisanship.
- Why This MattersThis episode isn’t just business; it’s a brutal message: tech CEOs, especially those of immigrant heritage, are only protected so long as they don’t exceed political comfort. Trump’s intrusion into Intel signals how far he’ll go—leveraging national security to mask nativism and wield power over corporate America.Without checks, this sets a chilling precedent: the government picks winners, punishes others, and promotes xenophobia under the guise of patriotism.
Trump has strong-armed Intel into handing the U.S. government a hefty ownership stake, in part by weaponizing racism and xenophobia against CEO Lip-Bu Tan. It’s raw, it’s orchestrated, and it’s a stark warning of how deep political overreach can run—especially when seasoned business leaders of color are the targets.
Socialism much?
Julie Bolejack, MBA
