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!”
An Intel spokesperson confirmed the meeting.
“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,” the spokesperson wrote in an email.
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, and asked whether Intel required Tan to divest from positions in chipmakers linked to the Chinese Communist Party, the People’s Liberation Army and any other concerning entities in China.
Trump’s latest 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.”
The Trump administration has taken a heavy hand in the business world, particularly in the semiconductor market, as the U.S. battles with China for supremacy in artificial intelligence. Over the weekend, Nvidia agreed to pay the federal government a 15% cut in return for receiving export control licenses that will allow it to once again sell its H20 chip to China and Chinese companies. Nvidia CEO Jensen Huang visited Trump in the White House on Friday.
President Trump on Monday said that he initially asked Nvidia for a 20% cut of the chipmaker’s sales to China, but the number came down to 15% after Huang negotiated with him.
“I said, ‘listen, I want 20% if I’m going to approve this for you, for the country,'” Trump said at a news conference in Washington, D.C.
Tan, 65, took over Intel after the struggling chipmaker had failed to gain significant traction in the AI market, which Nvidia dominates, while it was burning cash to build its foundry business for chip manufacturing.
Tan was born in Malaysia and raised in Singapore before moving to the U.S. and receiving a master’s degree from the Massachusetts Institute of Technology. He 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.”
Intel shares are up 3% this year as of Monday’s close. The S&P 500 is up 8.4%.
— CNBC’s Fred Imbert contributed to this report.
WATCH: President Trump demands Intel CEO resign