intel The stock rose 2% in after-hours trading Thursday after President Donald Trump posted flattering messages about the company and its CEO on social media and defended the government’s investment in the company.
“I just finished a great meeting with the very successful CEO of Intel, Lip Vu Thanh,” President Trump wrote on Truth Social.
In August, the US government acquired a 10% stake in Intel through an investment of $8.9 billion. This was due to unpaid CHIPS Act subsidies and government bonuses for semiconductor manufacturing.
“The U.S. government is a proud shareholder in Intel, which has already generated tens of billions of dollars for the American people in just four months through American ownership,” Trump wrote. “We made a great deal, and so did Intel. Our country is determined to bring cutting-edge chip manufacturing back to America, and that’s exactly what is happening!!!”
Intel stock has soared 75% since the Trump administration’s investment announcement, raising the government’s stake to more than $18 billion. The United States is now Intel’s largest shareholder.
Intel CEO Lip-Bu Tan holds a wafer of Intel Core Ultra Series 3 (codename: Panther Lake) CPU tiles outside Intel’s Ocotillo campus in Chandler, Arizona. Panther Lake is the first client system-on-chip (SoC) built on the Intel 18A process node.
Provided by: Intel
Tan replaced Pat Gelsinger as Intel’s CEO in March after Intel lost market share. advanced micro device and Nvidiaas well as manufacturers of chips based on the energy-efficient Arm design. However, Intel remains a major supplier of processors for PCs and computer servers.
In July, the chip maker announced it would lay off thousands of employees, and Mr. Tan moved to exit chip production in the United States and Europe. The Ohio factory is expected to open in 2030 or 2031.
The following month, President Trump called on Tan to resign, citing his “inconsistency.” The remarks came after Sen. Tom Cotton (R-Ark.) questioned Tan’s relationship with China. Tan, who was born in Malaysia and raised in Singapore, has invested in more than 600 Chinese technology companies, Reuters reported in April.
A few days later, after meeting with Intel’s CEO, Trump changed his tune, praising Tan’s “great story.” The investment was made later that month.
Earlier this week at the CES trade show in Las Vegas, Intel announced the availability of its 2-nanometer 18A PC chip. Intel said the process is the most advanced ever produced in the United States.
“Intel just launched the first sub-2 nanometer CPU processor designed, manufactured, and packaged here in the United States,” President Trump said in a post Thursday.
Intel has poured tens of billions of dollars into creating a domestic chip manufacturing business, as have AMD and Nvidia. Taiwan semiconductor manufacturing company.
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