The White House is reportedly considering taking a massive stake in Santa Clara, California-based semiconductor manufacturer Intel Corporation.
The news comes on the heels of a recent meeting President Trump had with Intel CEO Liu-Bu Tan after the President called out the chief executive over his ties to China, as previously reported by The Dallas Express.
“The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem. Thank you for your attention to this problem!” Trump posted on Truth Social on August 7.
Intel shares soared following speculation of a potential government investment. The week ending August 15 saw the company’s stock price jump 24%, the best weekly performance it has recorded in over 25 years.
The backlash originally stems from a Reuters report in April. The outlet detailed Tan’s investments of no less than $200 million in hundreds of Chinese advanced manufacturing and chip firms. At least eight of the companies were said to have links to the People’s Liberation Army.
After Trump publicly called out Tan, the CEO defended himself in a letter to employees before meeting with the President and his team at the White House.
“I met with Mr. Lip-Bu Tan, of Intel, along with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent. 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!” the President wrote on August 11 on Truth Social.
Despite a boom in artificial intelligence, Intel has faced criticism from shareholders for failing to turn the company around. The previous CEO, Patrick Gelsinger, who attended former President Joe Biden’s State of the Union address in 2022, later lost his job in December 2024 over the company’s poor performance.
Intel was also one of the biggest recipients of funds from the CHIPS and Science Act. The company received $7.86 billion from the Biden administration to help support domestic semiconductor projects.