Intel CEO meets Trump, stock price surges over 10%, U.S. government's holdings value doubles

Intel's stock price surged 10% on Friday after its CEO Lip-Bu Tan met with U.S. President Trump. This rise in Intel's stock continues a strong rebound, with the stock price more than doubling since the U.S. government invested in the chip manufacturer last August. After the meeting, Trump posted on his Truth Social platform on Thursday, stating, "The U.S. government is proud to be a shareholder of Intel." Trump praised Lip-Bu Tan as "very successful" and highlighted a recent chip launched by Intel, calling it "designed, manufactured, and packaged in the United States." Lip-Bu Tan later responded on the X platform, expressing his deep honor and stating that he was "very pleased to receive the full support and encouragement from President Trump and U.S. Secretary of Commerce Gina Raimondo." Lip-Bu Tan also pointed out that Intel's latest Core Ultra series 3 CPU processors have begun shipping, marking the first significant product launched by Intel based on the 18A process. In August of last year, the White House reached an agreement with Intel to invest $8.9 billion to purchase 433.3 million shares of Intel stock at a price of $20.47 per share. Intel's stock closed at $45.55 per share on Friday, bringing the value of this stake to approximately $19.74 billion. The stock has risen over 20% year-to-date. The friendly relationship between Trump and Lip-Bu Tan stands in stark contrast to their previously tense relationship before the government investment, which has now undergone a 180-degree turnaround. Just weeks before the investment announcement, Trump had posted on Truth Social that Lip-Bu Tan "has serious conflicts of interest and must resign immediately." Lip-Bu Tan was appointed CEO of Intel in March 2025, at a time when the company was facing declining sales and operational turmoil under former CEO Pat Gelsinger