Intel CEO Lip-Bu Tan turns Trump's early criticism into a $5.7 billion U.S. equity deal

In March, Lip-Bu Tan became Intel's CEO and by August had turned a Truth Social attack from President Donald Trump into a $5.7 billion U.S. government equity investment that made the country Intel's largest shareholder. Tan, a veteran investor with extensive China ties, used endorsements from major tech leaders, agreed to an equity-for-CHIPS structure, and simultaneously launched aggressive internal cost cuts and new chip manufacturing strategies. These moves reshaped Intel's political leverage in the global chip race and lifted its share price significantly since his appointment.