The Intel logo is displayed on a sign in front of Intel headquarters in Santa Clara, California, on July 16, 2025.
Justin Sullivan | Getty Images
Intel stock climbed 7% Friday after CEO Lip-Bu Tan met with President Donald Trump, continuing a rally that has seen the stock more than double since the U.S. took a stake in the chipmaker in August.
“The United States Government is proud to be a Shareholder of Intel,” Trump said in a Truth Social post Thursday following the meeting.
Trump lauded Tan as “very successful” and touted the launch of Intel’s recent chip that was “designed, built, and packaged right here in the U.S.A.”
Tan responded in an X post that he was honored and “delighted to have the full support and encouragement” of Trump and U.S. Secretary of Commerce Howard Lutnick.
The CEO also noted that Intel’s latest Core Ultra Series 3 CPU processors, its first major product built on Intel 18A, is now shipping out.
In August, the White House negotiated an $8.9 billion investment in Intel, buying 433.3 million shares at $20.47 per share.
That stake is now worth about $19 billion. The stock is up nearly 20% since the start of the year.
The amicable alliance between Trump and Tan has taken a full turn since the two’s rocky relationship prior to the administration’s investment.
A few weeks before the stake announcement, Trump said in a Truth Social post that Tan “is highly CONFLICTED and must resign, immediately.”
The demand came after Sen. Tom Cotton, R-Ark., expressed concern over the CEO’s connection to multiple Chinese companies and the potential national security risk.
“Intel is required to be a responsible steward of American taxpayer dollars and to comply with applicable security regulations,” Cotton wrote in a press release. “Mr. Tan’s associations raise questions about Intel’s ability to fulfill these obligations.”
Intel responded in a statement that the company, its board of directors and Tan are “deeply committed to advancing U.S. national and economic security interests.”
Tan also wrote in a memo to employees that the company was working with the administration to address the concern.
“I want to be absolutely clear: 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,” he said.
Tan was appointed CEO in March 2025 amidst declining sales and company instability under Pat Gelsinger’s leadership.