US President Donald Trump has suddenly reversed his stance on Intel CEO Lip-Bu Tan’s resignation, calling the CEO’s career an “amazing story” just days after demanding his removal.
Last week, shares of Intel plummeted after Tan came under fire from Trump, who had accused him of being “highly conflicted and must resign immediately”. However, in a surprising move, Trump has now met with Tan at the White House and praised his success story.
Tan was named Intel CEO in March, but it remains unclear if he has divested his interests in chip companies linked to the Chinese Communist Party. Despite this uncertainty, shares of Intel have gained 3.5% on Tuesday after news of the meeting between Trump and Tan.
The economic and political rivalry between the US and China is increasingly focused on computer chips, AI, and other digital technologies that are expected to shape future economies and military conflicts.
Source: https://apnews.com/article/intel-china-trump-ai-cotton-bessent-lutnik-4fa333fa6134d01aca85f64bcd7972fb