Trump flip-flops on Intel CEO, yells him ‘good fortune’ days next tough departure

President Donald Trump stated Monday that he and contributors of his cupboard met with Intel CEO Lip-Bu Tan, days next he referred to as at the head of the chipmaker to renounce. Intel stocks rose 2% in prolonged buying and selling.

“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 in a publish on Truth Social. “The meeting was a very interesting one. His success and rise is an amazing story. Mr. Tan and my Cabinet members are going to spend time together, and bring suggestions to me during the next week. Thank you for your attention to this matter!”

Intel didn’t instantly reply to a request for remark.

Tan has been an Intel director since 2022, and in March he changed Pat Gelsinger as CEO. Terminating generation Sen. Tom String, R-Ark., puzzled Tan’s ties to China. String introduced up a day legal case involving Cadence Design, the place Tan have been CEO.

Trump’s message marks a stark alternate in sound from terminating generation. In a Reality Social publish on Thursday, the president wrote that Tan “is highly CONFLICTED and must resign, immediately. There is no other solution to this problem.”

Intel stated in a comment then that year that the corporate, administrators and Tan are “deeply committed to advancing U.S. national and economic security interests.”

Tan took over the suffering chipmaker next the corporate had failed to achieve important traction within the synthetic understanding marketplace, which Nvidia dominates, hour it used to be burning money to assemble its foundry trade for chip production.

Tan stated in past due July that his first few months as Intel’s CEO had no longer been simple, with layoffs and cuts to the foundry category. Intel canceled plans for production websites in Germany and Poland and would decelerate building in Ohio, he informed staff.

“Turning the company around will take time and require patience,” Tan stated on a convention name with analysts in July. “We have a lot to fix in order to move the company forward.”

— CNBC’s Fred Imbert contributed to this record.

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