Less than a week after demanding his resignation, US President Donald Trump has now praised the career of Intel CEO Lip-Bu Tan as an “amazing story.”

Intel’s shares, which fell last week following Trump’s criticism of Tan, rose more than 3% in premarket trading Tuesday.

Trump’s initial attack came after Senator Tom Cotton sent a letter to Intel Chairman Frank Yeary raising concerns over Tan’s investments and connections with semiconductor companies reportedly linked to the Chinese Communist Party and the People’s Liberation Army. Cotton asked Intel whether Tan had divested from these companies to avoid any conflict of interest.

On Thursday, Trump wrote on his Truth Social platform, “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!”

Intel CEO reacts to Trump’s demand for resignation

Tan, who was appointed Intel CEO in March, has not publicly confirmed whether he has divested his interests in those chip firms.

In a message to employees, Tan denied misinformation about his past roles at Walden International and Cadence Design Systems, stating he has “always operated within the highest legal and ethical standards.”

Following a Monday meeting at the White House with Tan, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent, Trump softened his stance.

He wrote on Truth Social, “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 ongoing economic and political rivalry between the US and China is increasingly centered on semiconductors, artificial intelligence, and other digital technologies expected to shape future economies and military power.

Source: Agency