Overview

• President Trump convened a White House session with Intel CEO Lip-Bu Tan and Secretaries Howard Lutnick and Scott Bessent to address Tan’s past investments in Chinese semiconductor firms.
• News of the meeting sent Intel shares up more than 4%, reversing a recent sell-off triggered by calls for Tan’s ouster.
• Senator Tom Cotton has pressed Intel’s board for a full explanation of Tan’s roughly $200 million in prior investments and any divestments made.
• Intel and Tan released statements affirming their commitment to U.S. national and economic security and their willingness to collaborate with the administration.
• Under Tan’s tenure, Intel has enacted layoffs, slowed new fab projects and warned that its 14A process node could be paused without pre-secured external customers.