Today, Intel stocks are up 3% in premarket trading after a successful White House meeting with CEO Lip-Bu Tan and President Trump.
Trump praised Tan’s efforts in a Truth Social post following the meeting that was attended by Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and Intel’s CEO.
“I met with Mr. Lip-Bu Tan, of Intel, along with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent. The meeting was a very interesting one. His success and rise is an amazing story. Mr. Tan and my Cabinet members are going to spend time together, and bring suggestions to me during the next week. Thank you for your attention to this matter!”
Trump’s comments follow a turbulent week of relations with Intel after the President called for Tan’s resignation last week due to the new CEO’s possible connections to Chinese companies.
Intel also issued a statement confirming the success of the meeting, saying, “Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel’s commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President’s strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company.”
The positive outcome of the meeting is promising for Intel investors, as the troubled company works to stop losses in its manufacturing division, recover market share in its traditional computer chip sector, and develop an AI strategy to compete with other major players in the tech industry.
By CEO NA Editorial Staff
