Intel
United States President Donald Trump announced on Monday that he had met with Intel CEO Lip-Bu Tan, alongside Secretary of Commerce Howard Lutnick and Treasury Secretary Scott Bessent. The meeting, described by Trump as “very interesting,” marks a notable shift in tone after the president last week demanded Tan’s resignation over concerns about his past ties to Chinese companies.
Posting on Truth Social, Trump said, “His success and rise is an amazing story,” referring to Tan. He added that his cabinet members and Tan would spend additional time together in the coming days and present recommendations to him next week.
The meeting comes at a critical time for Intel, a company seen as central to the United States’ efforts to rebuild domestic semiconductor manufacturing. Following news of the meeting, Intel shares rose 2.2 percent in after-hours trading, signaling renewed investor optimism.
Trump’s prior call for Tan’s “immediate resignation” was highly unusual and sparked considerable debate within business and political circles. He had labeled Tan “highly conflicted” due to his financial and professional connections to Chinese firms, prompting uncertainty over Tan’s leadership and his plans to revive Intel’s fortunes.
According to a Wall Street Journal (WSJ) report published Sunday, Tan had been preparing for a detailed conversation with the president in hopes of clarifying his personal and professional background. The CEO was expected to propose new ideas for collaboration between Intel and the U.S. government.
Tan reportedly aimed to reassure Trump of his allegiance to American interests, with a particular emphasis on the national security implications of maintaining a strong domestic chip manufacturing base. “He shares the president’s commitment to advancing U.S. national and economic security,” the WSJ noted.
Reuters previously reported that Tan had invested more than $200 million in hundreds of Chinese chip and advanced manufacturing firms, some of which are believed to have connections to the Chinese military. These revelations raised concerns in Washington over potential conflicts of interest.
Born in Malaysia and of Chinese descent, Tan is a naturalized American citizen and a veteran of the U.S. tech industry. Before taking the helm at Intel, he served as CEO of Cadence Design Systems from 2008 until December 2021. During his tenure, Cadence sold chip design software to a Chinese military university allegedly involved in simulating nuclear explosions.
Last month, Cadence reached a plea agreement with U.S. authorities, agreeing to pay over $140 million to settle charges related to those sales.
While the controversy surrounding Tan’s past remains unresolved, the recent meeting suggests a possible thaw in Trump’s stance and opens the door to potential collaboration. The coming week is expected to be pivotal as Tan and Trump’s cabinet members prepare to present detailed suggestions on how Intel can align with U.S. national priorities.
