Trump no longer wants Intel CEO to resign and calls his success story amazing
On Monday, Intel CEO Lip-Bu Tan met with US President Donald Trump, after which a surprising twist occurred - instead of calling for his resignation, Trump called Tan's success story incredible and expressed his intention to continue the dialogue next week. It is not known what the parties discussed, as the meeting was held behind closed doors.
Context.
In early August, Trump said that Tan was "very controversial" and had ties to Chinese firms, and categorically demanded his dismissal.
Lip-Bu Tan became Intel's CEO only in March 2025. His arrival was due to the company's catastrophic financial condition and problems with the production of its own chips. As CEO, Tan announced plans to cut 22% of the company's staff, downsize several divisions, and halt the construction of factories in Germany and Poland. Despite all expectations, he said that Intel would most likely not be able to produce the next generation of processors at its own factories and would continue to order chips from TSMC.
Lip-Bu Tan's resignation could have halted the changes he was making at Intel. After the meeting at the White House, Intel shares rose by about 3% as the market saw the potential for stabilisation of the situation.
Bottom line.
Trump is not known for consistency in his actions, so it is too early to say that the clouds over Intel have completely lifted. At the same time, the company is going through a difficult time and is making drastic changes. It is likely that the parties simply do not want to harm the processor giant at this vulnerable time. After all, in addition to huge taxes, we are talking about the only major manufacturer of modern processors that has its own production vertical from design to assembly of finished processors.
Source: www.engadget.com
