China's State-Backed Cybersecurity Association Calls for Review of Intel Products Over Security Risks; Shares Fall 4.5%

Oct 16, 2024, 12:33 PM

On Wednesday, the state-backed Cybersecurity Association of China called for a systematic cybersecurity review of Intel Corp's products sold in the country, alleging that the U.S. chipmaker has 'constantly harmed' China's national security and interests. The association, linked to China's cyber watchdog, cited frequent vulnerabilities, high failure rates, and hidden backdoors in Intel products. The group accused Intel of being 'irresponsible' towards customers and engaging in actions that threaten national security. Following the announcement, Intel shares fell as much as 4.5% in premarket trading.