U.S. President Donald Trump said today that members of his cabinet are going to continue discussions with Intel Corp. Chief Executive Lip-Bu Tan, after meeting with him at the White House earlier.

Following the meeting, Trump posted on his social media platform Truth Social that he met with Tan along with his Commerce and Treasure Secretaries Howard Lutnick and Scott Bessent. “The meeting was a very interesting one,” he wrote. “His success and rise is an amazing story.”

Intel said in a statement that Tan will “spend time together” with his cabinet members to discuss its commitment to “strengthening U.S. technology and manufacturing leadership,” adding that the talks were “candid and constructive.”

The company added that it appreciates the president’s “strong leadership,” saying that it’s looking forward to working with his administration closely as it bids to “restore this great American company.”

Trump’s favorable remarks regarding Tan amount to a stark flip-flop on his earlier position. Just four days prior, the president had called for the CEO to resign from his position, accusing him of being “conflicted” from his links to Chinese companies. “There is no other solution to this problem,” Trump said at the time.

The comments came shortly after Republican Senator Tom Cotton sent an open letter to Intel Chairman Frank Yeary, asking questions about Tan’s investments in a number of Chinese semiconductor firms and others with links to that country’s military. It’s notable that Tan was previously CEO of Cadence Design Systems Inc., which makes software for chip designers and was recently found guilty of selling restricted products to a Chinese university during his tenure.

Before visiting the White House, Tan said in a statement that he has the full backing of Intel’s board of directors and that he was reaching out to the administration to clear up any “misinformation” about his priorities and activities.

Tan was born in Malaysia and grew up in Singapore before moving to the U.S. around 40 years ago to study a master’s degree at the Massachusetts Institute of Technology. He later obtained U.S. citizenship. In late July, he admitted that his first few months as CEO of Intel were “not easy,” having decided upon significant layoffs and cuts to the company’s foundry business. Those comments came after Intel revealed it will slow the construction of a new chipmaking fab being built in Ohio and cancel projects in Germany and Poland.

“Turning the company around will take time and require patience,” told analysts on a conference call that month. “We have a lot to fix in order to move the company forward.”

Constellation Research Inc. analyst Holger Mueller said Trump’s apparent change of heart regarding Tan teaches us two things. “The first is that the U.S. clearly needs the Intel fabs up and running, because it sees them as key to its domestic semiconductor manufacturing ambitions, which is an important national security consideration,” he explained. “The second is that it’s always better to meet in person before making any key decisions.”

Despite Trump’s apparently encouraging remarks, Tan might not necessarily be in the clear. Although the president now seems to have a better opinion of the executive, the fact that discussions will continue indicates he may still want to make some kind of deal to ensure Tan’s priorities lay with Intel and the U.S.

For now, Intel shareholders seem satisfied with the outcome of the meeting, with the chipmaker’s stock rising more than 2% in extended trading. The stock had declined more than 3% on the day Trump called for Tan’s resignation.

Photo: Intel