US President Donald Trump has now made a U-turn on his opinion over Intel CEO Lip-Bu Tan, days after publicly demanding his resignation. Trump said he met Intel’s Lip-Bu Tan along with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. He praised Tan’s achievements and said his cabinet members would work with him and bring him suggestions for the coming week.
Intel spokesperson also confirmed the meeting, adding that Tan and Trump had a candid discussion on the company’s plans to boost US technology, economic security, and manufacturing leadership. Following this collaboration, Trump announced on social media that his Cabinet members would continue to “spend time” with Tan and “bring suggestions” to him the following week.
Trump’s U-turn on Intel CEO Lip-Bu Tan
Trump’s latest message concerning the Intel CEO is very different from what he said last week. He took to Truth Social on Thursday and claimed that Tan had serious conflicts of interest and should step down right away.
This attack was triggered by Republican Senator Tom Cotton’s letter to the Intel board seeking clarification on the same. It not only pointed out Tan’s investment in Chinese semiconductor companies, but also in the country’s military, media reports suggested. In a letter to employees, Tan refuted the “misinformation,” stating he has “always acted within the highest legal and ethical standards.”
Notably so, the allegations led to a step decline in Intel’s share price by 3.1% that week. Today, it is up 3.66% after it closed at 2.37% in yesterday’s trading round, with revenue also raking up gradually. At the same time, Intel’s semiconductor chip manufacturer competitor, Nvidia’s CEO Jensen Huang, also met with Trump at the White House regarding the matter of H20 AI chip sale license. They agreed to pay 15% to the Federal government in return for receiving the export control license.
Why did Trump meet Tan?
The meeting in Washington, DC, took place when Intel CEO Tan reached out to the White House to “engage with the administration” to address the concerns raised and present them with the facts. Intel also issued a statement that revealed the outcome of the Trump and Tan meeting. The notice overtly mentioned Intel’s “commitment to strengthening U.S. technology and manufacturing leadership.”