Intel (INTC) stock jumped Monday as CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation last week.
After the meeting, Trump posted to Truth Social saying that he had met with Tan along with Secretary of Commerce Howard Lutnick and Secretary of the Treasury Scott Bessent. "The meeting was a very interesting one," the president wrote, adding, "His success and rise is an amazing story."
Trump said Tan and his cabinet will "spend time together" and "bring suggestions" to him in the next week, without specifying on the topics to be discussed.
Intel stock rose 3.5% on Monday during the day as reports circulated about the meeting. After Trump's post landed Monday evening, Intel continued to rise about 2.3% in after-hours trading.
Trump said Tan and his cabinet will "spend time together" and "bring suggestions" to him in the next week, without specifying on the topics to be discussed.
Intel stock rose 3.5% on Monday during the day as reports circulated about the meeting. After Trump's post landed Monday evening, Intel continued to rise about 2.3% in after-hours trading.
Tan was named Intel's CEO in March, taking over after his predecessor Pat Gelsinger was ousted by the board last year. 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.
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