President Donald Trump has changed his position on Intel CEO Lip-Bu Tan following a meeting between the two at the White House.
President Donald Trump has reversed his stance on Intel CEO Lip-Bu Tan, just days after calling for his resignation over investments and ties to Chinese companies. The change in opinion came after a meeting between Trump, Tan, Secretary of Commerce Howard Lutnick, and Secretary of the Treasury Scott Bessent at the White House.
Last week, Republican Senator Tom Cotton sent a letter to Intel’s board of directors, expressing concern about the security and integrity of Intel’s operations and their potential impact on U.S. national security. The letter referenced the more than $200 million Tan and his venture capital firm have invested in Chinese advanced manufacturing and chip companies, some of which have ties to the Chinese military.
Following the letter, Trump took to his Truth Social network, stating that Tan was “highly CONFLICTED and must resign, immediately.” In response, Tan called the suspicion about his China dealings “misinformation” in a letter to Intel staff and confirmed that the company would be meeting with the Trump administration to discuss the matter.
During the White House meeting, Tan explained his personal and professional background to Trump and proposed ways in which Intel and the government could collaborate. Born in Malaysia and raised in Singapore, Tan moved to the U.S. and received a master’s degree from the Massachusetts Institute of Technology.
The meeting appeared to be a success, with Trump confirming that it was “a very interesting one” and that Tan’s “success and rise is an amazing story.” The president added that Tan and his Cabinet members would spend time together and bring suggestions to him during the next week.
Intel released a brief statement about the meeting, describing it as a “candid and constructive discussion on Intel’s commitment to strengthening U.S. technology and manufacturing leadership.” The company expressed appreciation for the president’s leadership in advancing these critical priorities and looked forward to working closely with him and his administration to “restore this great American company.”
Following Trump’s endorsement of Tan, Intel’s share price rose as much as 15 percent, marking a rare piece of good news for the company. Intel has recently faced challenges, including a credit rating slash to two steps above junk status by Fitch and reports of low yields and quality issues with its 18A process, which could potentially jeopardize its manufacturing comeback.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
Read the full article here
