Intel’s stock surged by 10% on Friday, fueled by a meeting between CEO Lip-Bu Tan and former President Donald Trump. This increase is part of a larger trend, with the stock more than doubling since the U.S. government acquired a stake in the semiconductor giant in August.
Following the meeting, Trump expressed his pride in the U.S. government’s investment in Intel through a post on Truth Social. He praised Tan as “very successful” and highlighted the launch of Intel’s latest chip, stating it was “designed, built, and packaged right here in the U.S.A.”
In response, Tan took to X, expressing his gratitude for the support from Trump and U.S. Secretary of Commerce Howard Lutnick. The CEO revealed that Intel’s new Core Ultra Series 3 CPU processors, which represent the company’s first significant product based on the Intel 18A technology, are now being shipped.
The White House’s negotiation in August resulted in an $8.9 billion investment in Intel, acquiring 433.3 million shares at a price of $20.47 each. With the stock closing at $45.55 per share on Friday, this stake has appreciated to a remarkable $19.74 billion. Additionally, Intel’s stock has increased by over 20% since the beginning of the year.
The relationship between Tan and Trump seemed to have transformed significantly, moving from a troubled past to a more amicable partnership following the government’s financial involvement with Intel. This collaboration hints at a promising future for both the chipmaker and the American tech industry as a whole.