Intel is potentially entering a partnership with the U.S. government, which aims to support its new manufacturing plant in Ohio. Following discussions between President Trump and Intel CEO Lip-Bu Tan, talks are underway for the government to acquire a stake in Intel. This news caused Intel's stock shares to rise significantly. The relationship between Tan and Trump has recently shifted after Trump previously criticized Tan’s ties to Chinese semiconductor firms. The partnership may align Intel with other tech companies like Nvidia and AMD that have made similar agreements with the administration.
Shares of Intel's stock (NASDAQ: INTC) jumped 7.4% on Thursday after the news broke. It continued to trend upward through after-hours and into premarket trading on Friday.
Tan defended himself in a letter sent to Intel's employees and shared publicly, stating, 'I have always operated within the highest legal and ethical standards.'
Trump claimed that the CEO is 'conflicted' due to investments in Chinese semiconductor firms, which might have a link to the Chinese Communist Party and the People's Liberation Army.
In a separate Truth Social post, Trump called the meeting an 'interesting one' and said Tan's 'success and rise is an amazing story.'
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