Intel CEO Lip-Bu Tan makes a speech on stage in Taipei, Taiwan May 19, 2025.
Ann Wang | Reuters
President Donald Trump said Monday that he and members of his cabinet met with Intel CEO Lip-Bu Tan, days after he called on the head of the chipmaker to resign. Intel shares rose 2% in extended trading.
“I met with Mr. Lip-Bu Tan, of Intel, along with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent,” Trump wrote in a post on Truth Social. “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!”
Intel didn’t immediately respond to a request for comment.
Tan has been an Intel director since 2022, and in March he replaced Pat Gelsinger as CEO. Last week Sen. Tom Cotton, R-Ark., questioned Tan’s ties to China. Cotton brought up a past criminal case involving Cadence Design, where Tan had been CEO.
Trump’s message marks a stark change in tone from last week. In a Truth Social post on Thursday, the president wrote that Tan “is highly CONFLICTED and must resign, immediately. There is no other solution to this problem.”
Intel said in a comment later that day that the company, directors and Tan are “deeply committed to advancing U.S. national and economic security interests.”
Tan took over the struggling chipmaker after the company had failed to gain significant traction in the artificial intelligence market, which Nvidia dominates, while it was burning cash to build its foundry business for chip manufacturing.
Tan said in late July that his first few months as Intel’s CEO had not been easy, with layoffs and cuts to the foundry division. Intel canceled plans for manufacturing sites in Germany and Poland and would slow down development in Ohio, he told employees.
“Turning the company around will take time and require patience,” Tan said on a conference call with analysts in July. “We have a lot to fix in order to move the company forward.”
— CNBC’s Fred Imbert contributed to this report.
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