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President Donald Trump seems to have changed his tune on Intel’s CEO, Lip-Bu Tan.
Days after saying the CEO should “resign, immediately,” Trump praised Tan on Truth Social, calling his rise “an amazing story.”
“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. “The meeting was a very interesting one. His success and rise is an amazing story.”
He added that Tan would work with his cabinet secretaries and bring him “suggestions” in the next week.
“Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel’s commitment to strengthening US technology and manufacturing leadership,” a spokesperson from Intel said in a statement to Business Insider. “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 post on Monday marks a shift in tone from Trump on Tan, who was made CEO of Intel in March.
Last week, Trump called Tan “highly CONFLICTED” in a Truth Social post and said the CEO should resign.
That post came two days after Sen. Tom Cotton wrote a letter to the chairman of Intel’s board of directors with concerns about conflicts of interest and US national security. Cotton wrote specifically asking about Tan’s reported investments and previous leadership at Cadence Design Systems. He also questioned Tan’s reported investments in Chinese companies, including some with ties to the Chinese military.
A spokesperson for Intel said the company looks forward to working with Cotton on these matters and that Intel and Tan “are deeply committed to the national security of the United States and the integrity of our role in the US defense ecosystem.”
In response to Trump, Tan addressed Intel in a memo:
“Over 40+ years in the industry, I’ve built relationships around the world and across our diverse ecosystem — and I have always operated within the highest legal and ethical standards. My reputation has been built on trust — on doing what I say I’ll do, and doing it the right way. This is the same way I am leading Intel.”
The flagging US chipmaker has received $8 billion from the CHIPS and Science Act. Tan hopes to turn the company around and has highlighted its importance to US national security.
The White House did not immediately respond to a request for comment.
Intel’s stock price was up more than 2% after market close.
The post Trump praises Intel’s CEO, days after calling for him to resign appeared first on Business Insider.
