Meeting marks a shift in tone after Trump’s call for Tan’s resignation over China ties
Intel (INTC) stock rose more than 3% in premarket trading Tuesday after CEO Lip-Bu Tan met with President Donald Trump, just days after Trump publicly urged Tan to resign. The gains pared back after the market opened but followed a 3.5% jump on Monday as reports of the meeting emerged.
Trump said on Truth Social that he met with Tan alongside Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, describing the discussion as “very interesting” and praising Tan’s “amazing” personal story. He added that Tan and his Cabinet will “spend time together” in the coming week to “bring suggestions,” without providing specifics.
Intel confirmed the meeting, calling it a “candid and constructive discussion” focused on strengthening U.S. technology and manufacturing leadership. According to the Wall Street Journal, Tan sought to outline his background and propose areas for government collaboration.
The meeting followed a sharp exchange last week when Trump, echoing Republican Sen. Tom Cotton’s concerns over Tan’s ties to Chinese investments through his venture capital firm, Walden International, called for the CEO’s “immediate” resignation. Tan dismissed what he described as “misinformation” about his career, reaffirming his adherence to “the highest legal and ethical standards” over four decades in the industry.
Intel reiterated its commitment to U.S. national and economic security, noting its investments in domestic semiconductor manufacturing aligned with Trump’s “America First” agenda.
Tan, appointed in March after Pat Gelsinger’s ouster, is tasked with reversing Intel’s struggles in manufacturing, market share, and AI strategy. His arrival was initially welcomed by Wall Street, lifting shares 15%. While Intel remains up nearly 4% in 2025, it continues to lag behind peers Nvidia and AMD, which have surged 36% and 47% this year, respectively.
You might like this article: AMC Rises on Earnings Beat as Meme-Stock Action Flickers Back to Life
