President Donald Trump has done a U-Turn on Intel CEO, Lip-Bu Tan, going from calling for his resignation to now praising him and claiming that his "success and rise is an amazing story," via a recent post on Truth Social. This happened after a meeting on Monday where Tan sat down with Trump, Secretary of Commerce Howard Lutnick, and Secretary of the Treasury Scott Bessent.
You might remember how last Thursday, President Trump called for the resignation of the newly appointed CEO on Truth Social. His demand followed a public letter from Senator Tom Cotton, who had questions for the Intel board. Cotton grilled the company about Tan"s past investments in Chinese semiconductor firms with ties to the Chinese military. He also pointed to a past criminal case involving a certain company called Cadence Design Systems, where Tan was CEO.
That company had pleaded guilty to illegally sending technology to a Chinese military university. Cotton wanted to know if Intel required Tan to divest from any companies linked to the Chinese Communist Party (CCP) or the People"s Liberation Army (PLA).
As for Intel"s response to the President"s original post, well, the company scrambled to do damage control, with a rep stating that Intel and its CEO were committed to the "America First" agenda and national security.
They also made sure to note that the company has been "manufacturing in America for 56 years". The CEO himself pushed back against the claims in a memo to employees. He labeled the concerns "misinformation" and defended his four-decade career.
I want to be absolutely clear: Over 40+ years in the industry, I have built relationships around the world and across our diverse ecosystem — and I have always operated within the highest legal and ethical standards.
An Intel spokesperson confirmed the meeting Trump referenced in his Truth Social post, telling CNBC that Tan had a "candid and constructive discussion" with the President about strengthening American manufacturing and technology.