Trump Softens Stance on Intel CEO Lip-Bu Tan After 'Very Interesting' Meeting
Only last week, the president had called Tan 'highly conflicted' over his past investments in Chinese technology firms, including companies linked to the Chinese military. At that time, Trump declared there was 'no other solution' but for the Intel chief to step down — an unusually direct intervention by a US leader into corporate leadership matters.
The shift followed a meeting at the White House attended by Tan, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent. Trump, speaking afterward, praised Tan's 'amazing story' and revealed that the group would be presenting suggestions to him next week. The change in sentiment appeared to boost investor confidence, with Intel shares rising 3% in after-hours trading.
Lip-Bu Tan, a Malaysian-born Chinese American, has been at Intel's helm for roughly six months, taking charge during one of the most challenging periods in the company's history. He has initiated sweeping strategic changes, including asset sales, workforce reductions, and a renewed focus on competitive technologies. Intel has been working to claw back market share in the booming artificial intelligence chip sector, a field currently dominated by Nvidia, while also trying to fix delays and setbacks in its manufacturing operations.
Earlier this year, Reuters reported that Tan and funds linked to him had invested more than $200 million in hundreds of Chinese companies, including contractors for the People's Liberation Army. While such investments are legal unless they involve entities on a US Treasury blacklist, the revelations raised concerns in Washington. Intel has since stated that Tan has divested from Chinese entities, though the details remain murky.
Following Monday's meeting, Intel issued a statement calling the discussion with Trump 'candid and constructive,' adding that both sides focused on strengthening US technology and manufacturing leadership. The company pledged to work closely with the administration to 'restore this great American company.'
The original wave of criticism toward Tan was amplified after Republican Senator Tom Cotton sent a letter to Intel's board questioning the CEO's past business links. The controversy came at a sensitive time for Intel, which last year secured $8 billion in subsidies under the 2022 CHIPS Act to expand domestic manufacturing.
Despite the show of unity, Intel still faces steep hurdles. Its massive Ohio factory project has been delayed, with completion now expected sometime in the next decade, while new manufacturing processes have encountered quality issues. Plans for overseas expansion have also been scaled back.
Trump's change of heart underscores his hands-on approach to strategic industries such as semiconductors — ensuring that corporate leadership aligns with broader US national and economic priorities.
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