Intel (INTC) stock jumped more than 4% ahead of CEO Lip-Bu Tan’s reported visit to the White House after President Trump called for his resignation.
Citing unnamed sources, the Wall Street Journal reported over the weekend that Tan is set to meet with Trump Monday to explain his personal and professional background and to propose ways that Intel and the government can collaborate.
Intel did not immediately respond to Yahoo Finance’s questions regarding the reported meeting.
Last week, Trump called for Tan’s resignation in a Truth Social post minutes after Fox Business covered recent criticism of the CEO from Republican Sen. Tom Cotton over his ties with China. Cotton in a letter to Intel expressed “concern about the security and integrity of Intel’s operations,” given Tan’s investments in Chinese businesses through his venture capital firm, Walden International.
Trump wrote in his post last Thursday, “The CEO of INTEL is highly CONFLICTED and must resign, immediately.”
Tan responded by saying reports about his career contained “misinformation.”
“There has been a lot of misinformation circulating about my past roles … 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,” Tan wrote in a memo to employees.
Intel also issued its own statement following Trump’s comments, emphasizing its commitment to “advancing US national and economic security interests” and to making investments “aligned with the President’s America First agenda,” including domestic semiconductor manufacturing.
Tan was named Intel’s CEO in March, taking over after his predecessor Pat Gelsinger was ousted by the board last year as the company struggled to stem losses in its manufacturing business, regain market share in its legacy computer chip segment, and develop an AI strategy.
Investors cheered Tan’s appointment, with the stock rising as much as 15% after the news. Wall Street analysts, as well as several current and former executives and employees, saw Tan as the best possibility to succeed in turning around the troubled company.
Intel’s gain Monday puts shares of the company up nearly 4% this year, lagging chipmakers such as Nvidia (NVDA) and Advanced Micro Devices (AMD), which have added roughly 36% and 47% in 2025, respectively. Intel stock’s uptick this year follows a 60% drop in 2024.
Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at [email protected].
