Trump flip-flops on Intel CEO, calls him 'success' days after demanding resignation

Ann Wang | ReutersPresident Donald Trump said Monday that he and members of his cabinet met with Intel CEO Lip-Bu Tan, days after he called on the head of the chipmaker to resign

Intel s rose 2% in ext trading."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 post on Truth Social. "The meeting was a very interesting one

His success and rise is an amazing story

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!"An Intel spokesperson confirmed the meeting."Earlier today, Mr

Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. nology and manufacturing leadership," the spokesperson wrote in an

Tom Cotton, R-Ark., questioned Tan's ties to China

Cotton brought up a past criminal case involving Cadence Design, where Tan had been CEO, and asked whether Intel required Tan to divest from positions in chipmakers linked to the Chinese Communist Party, the People's Liberation Army and any other concerning entities in China.Trump's message marks a stark change in tone from last week

In a Truth Social post on Thursday, the president wrote that Tan "is highly CONFLICTED and must resign, immediately

There is no other solution to this blem."Intel said in a later that day that the company, directors and Tan are "deeply committed to advancing U.S. national and economic security interests."The Trump administration has taken a heavy hand in the world, particularly in the semiconductor market, as the U.S. battles with China for supremacy in artificial intelligence

Nvidia CEO Jensen Huang visited Trump in the White House on Friday.President Trump on Monday said that he initially asked Nvidia for a 20% cut of the chipmaker's sales to China, but the number came down to 15% after Huang negotiated with him."I said, 'listen, I want 20% if I'm going to apve this for you, for the country,'" Trump said at a news conference in Washington, D.C.Tan, 65, took over Intel after the struggling chipmaker had failed to gain significant traction in the AI market, which Nvidia dominates, while it was burning cash to build its foundry for chip manufacturing.Tan was born in Malaysia and raised in Singapore before moving to the U.S. and receiving a master's degree from the Massachusetts Institute of nology

He said in late July that his first few months as Intel's CEO had not been easy, with layoffs and cuts to the foundry division

Intel canceled plans for manufacturing sites in Germany and Poland and would slow down development in Ohio, he told employees."Turning the company around will take time and require patience," Tan said on a conference call with analysts in July. "We have a lot to fix in order to move the company forward."Intel s are up 3% this year as of Monday's close