(Reuters) -U.S. President Donald Trump said on Monday he met with Intel CEO Lip-Bu Tan, along with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.
Shares of Intel, considered to be at the heart of America’s domestic chip manufacturing ambitions, rose 2.2% in extended trading.
“The meeting was a very interesting one,” Trump said on Truth Social, adding that his cabinet members and Tan are going to spend time together and bring suggestions to him during the next week.
Trump last week demanded Tan’s immediate resignation over ties to Chinese firms, injecting uncertainty into the chipmaker’s years-long turnaround effort.
The CEO had invested in hundreds of Chinese firms, some of which were linked to the Chinese military, Reuters reported exclusively in April.
Tan has been tasked to undo years of missteps that left Intel struggling to make inroads in the booming AI chip industry dominated by Nvidia, while investment-heavy contract manufacturing ambitions led to heavy losses.
But the demand for Tan’s resignation will only distract him from that task, investors and a former senior employee have told Reuters.
(Reporting by Ismail Shakil in Ottawa; Reporting by Arsheeya Bajwa and Jaspreet Singh in Bengaluru; Editing by Leslie Adler and Sriraj Kalluvila)
