Intel Corp (NASDAQ:INTC, ETR:INL) shares added more than 5% on reports its CEO Lip-Bu Tan’s scheduled visit to the White House, following a public call from President Donald Trump demanding Tan’s resignation.
According to a report by the Wall Street Journal citing unnamed sources, Tan is set to meet with Trump on Monday to discuss his personal and professional background and to explore potential areas for collaboration between Intel and the US government.
Last week, Trump criticized Tan on his Truth Social platform, calling him “highly conflicted” and demanding his immediate resignation.
This followed Republican Senator Tom Cotton’s comments raising concerns about Tan’s investments in Chinese companies through his venture capital firm, Walden International. Cotton expressed worries about the security and integrity of Intel’s operations given these ties.
In response, Tan issued a memo to Intel employees stating that reports about his career included “misinformation.” He highlighted that throughout his 40-plus years in the industry, he has maintained relationships globally while operating within “the highest legal and ethical standards.”
Intel also released a statement reaffirming its commitment to advancing US national and economic security interests, including investments aligned with the Trump administration's “America First” agenda, such as expanding domestic semiconductor manufacturing.
Tan became Intel’s CEO in March 2025, and during his tenure the company has faced challenges related to its manufacturing business, market share, and AI strategy.
Intel has not commented on the reported meeting.
Shares of Intel traded 5.3% higher at $21 in the early afternoon on Monday.