TLDR
- Intel shares jumped 3.5% after CEO Lip-Bu Tan met with President Trump, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent
- Trump called the meeting “very interesting” and praised Tan’s “amazing story” on Truth Social platform
- The meeting comes just days after Trump demanded Tan’s resignation over concerns about his China business ties
- Trump indicated more discussions will happen next week with Cabinet members to bring him suggestions
- Intel released a statement calling the discussion “candid and constructive” about strengthening U.S. technology leadership
Intel stock surged in premarket trading Tuesday after CEO Lip-Bu Tan met with President Trump on Monday. The meeting marked a dramatic shift from last week’s tensions.
Trump posted on Truth Social that he found the discussion “very interesting.” He praised Tan’s career trajectory as “an amazing story.”
The president met with Tan alongside Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. Trump said the group would spend more time together in the coming week.
“Mr. Tan and my Cabinet members are going to spend time together and bring suggestions to me during the next week,” Trump wrote. He did not specify what topics they would discuss.
Intel shares rose 3.5% during Monday’s trading session as news of the meeting spread. The stock continued climbing 2.8% in after-hours trading after Trump’s social media post.
The meeting comes after a turbulent week for Intel’s leadership. Last Thursday, Trump called for Tan’s immediate resignation on Truth Social.
The demand came minutes after Fox Business covered Republican Senator Tom Cotton’s criticism of Tan. Cotton raised concerns about Tan’s investments in Chinese businesses through his venture capital firm, Walden International.
“The CEO of INTEL is highly CONFLICTED and must resign, immediately,” Trump wrote in his Thursday post. Cotton had questioned the security of Intel’s operations given these connections.
CEO Defends His Record
Tan pushed back against the criticism in a memo to employees. He said reports about his career contained “misinformation.”
“Over 40+ years in the industry, I’ve built relationships around the world and across our diverse ecosystem,” Tan wrote. He stressed that he always operated within legal and ethical standards.
Intel also issued its own statement defending Tan’s appointment. The company emphasized its commitment to advancing U.S. national and economic security interests.
The chipmaker said its investments align with Trump’s America First agenda. This includes domestic semiconductor manufacturing projects.
Recent Leadership Changes
Tan became Intel’s CEO in March after the board ousted his predecessor Pat Gelsinger. Investors initially celebrated his appointment with shares rising 15%.
Wall Street analysts viewed Tan as the best option to turn around Intel’s struggling business. The company has faced challenges in manufacturing, market share, and AI strategy development.
The meeting with Trump could open doors for government collaboration deals. Tan has been working to salvage Intel’s chip-manufacturing operations since taking over.
Intel released a statement acknowledging Monday’s meeting. The company called it a “candid and constructive discussion on Intel’s commitment to strengthening U.S. technology and manufacturing leadership.”
Intel shares are up nearly 4% for 2025 following Tuesday’s rally. This performance lags behind competitors like Nvidia, which has gained roughly 36% this year.
Advanced Micro Devices has performed even better with a 47% gain in 2025. Intel’s modest gains follow a steep 60% decline in 2024.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
