Sequoia's Moritz backs Intel CEO Lip-Bu Tan after Trump's 'artless bullying'

Mike Moritz, a prominent venture capitalist, has publicly defended Intel's CEO, Lip-Bu Tan, in light of recent demands for his resignation from President Donald Trump. Moritz described Trump's actions as unprecedented in modern political history, labeling the situation a 'vindictive political sideshow.' Having known Tan for nearly 40 years, Moritz emphasized the CEO's successful track record, particularly his turnaround efforts at Cadence Design Systems. In a compelling piece published in the Financial Times, Moritz urged the Intel board to choose between succumbing to political pressure or standing firm against what he termed 'artless bullying.' He expressed hope that early indications of defiance from Intel could pave the way for a more resilient corporate response. Tan is scheduled to visit the White House soon, aiming to address concerns regarding his background and explore collaborative opportunities with the U.S. government. Following the announcement of his visit, Intel's stock experienced a nearly 5% increase. The Wall Street Journal was the first to reveal Tan's upcoming meeting at the White House. Last week, Trump took to Truth Social to call for Tan's resignation, branding him as 'highly CONFLICTED.' Senator Tom Cotton, a Republican from Arkansas, has also scrutinized Tan's connections with Chinese firms, raising alarms about potential national security implications. In response to the growing controversy, Tan reassured his employees through a letter that he has consistently adhered to the highest ethical and legal standards throughout his career. Moritz, who has been a part of Sequoia Capital since 1986 and stepped down in 2023, has a storied history of successful investments, including early stakes in companies like Google and PayPal.