Lip-Bu Tan was appointed as the new CEO of Intel Corporation, effective March 18, 2025, succeeding interim co-CEOs David Zinsner and Michelle Johnston Holthaus. The appointment, announced on March 12, 2025, was made by Intel's board, which cited Tan's technology industry expertise and proven track record of creating shareholder value.
The leadership change took a dramatic turn in August 2025 when former President Donald Trump publicly attacked Tan on Truth Social, calling for his immediate resignation over alleged conflicts related to Tan's extensive investment ties in China. Within weeks, Tan orchestrated a reversal, securing a 40-minute Oval Office meeting with Trump, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent.
During the meeting, Tan reportedly declined direct cash handouts from the CHIPS Act and instead agreed to a deal where the U.S. government would take an equity stake in Intel. This resulted in a $5.7 billion investment, making the U.S. government Intel's largest shareholder with a nearly 10% stake. Following the meeting, Tan publicly stated, "Make Intel great again," echoing Trump's signature phrase.
Internally, Tan has initiated a aggressive restructuring, including cutting 15% of Intel's staff, primarily managers, and fostering a more engineering-centric culture. The company continues to face technical challenges, such as issues with its 18A manufacturing process, which reportedly caused Nvidia to hesitate despite a public partnership announcement. However, Intel claims its next-generation 14A node is on track.
The U.S. investment is framed as a key initiative to reshore semiconductor manufacturing. The deal, coupled with a separate $2 billion investment from SoftBank, has contributed to a significant stock rally, with Intel's shares up approximately 80% since Tan took the helm.
