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President Trump discussed the details of his meeting with Intel CEO Lip-Bu Tan at a White House media event on Friday. The result was the U.S. government acquiring a 10% stake in Intel, which closed 5.53% higher on that day due to broader tech stock bullishness and word of a US government stake aimed at alleviating some of Intel’s financial problems.
During the meeting, Trump expressed his admiration for Tan, suggesting a 10% US government stake after Tan visited him following concerns about possible ties with China.
**US Government’s 10% Stake in Intel Is “A Great Deal For Them,” Says President Trump**
The government’s investment comes as part of the Trump administration’s efforts to bolster American manufacturing. Given that Intel is the only U.S.-based company capable of producing leading-edge chips, the administration also encouraged Taiwan’s TSMC to establish a US base by committing an additional $100 billion.
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At the White House, Trump recounted his discussions with Tan: “He came in and we talked for a while. I liked him a lot, I thought he was very good, but nobody’s a total victim,” Trump added.
Tan visited the White House after concerns about his China ties were raised by a senator. During their talks, Trump suggested that “the United States should be given 10% of Intel.”
Trump recalled being assertive: “While Tan said he would consider my offer, I told him, ‘Well, I’d like you to do that because Intel has been left behind compared to Jensen and some of our friends like NVIDIA.’”
The President lamented that “Intel was the biggest, most powerful chip company in the world,” but had lost its edge to foreign competitors due to poor management over the years.
Trump concluded that the U.S. investment is beneficial: “I think it’s a great deal. He walked in wanting to keep his job and ended up giving us ten billion dollars for the United States. So we picked up ten billion.”
In summary, Trump emphasized that deals like this benefit both the U.S. and Intel.
