Trump’s Endorsement of Intel CEO Sparks Market Rally
Intel shares surged nearly 10% Friday after former President Donald TRUMP praised CEO Lip-Bu Tan in a Truth Social post, calling their meeting "great" and reaffirming the U.S. government's pride as a major shareholder. This marks a stark reversal from Trump's earlier calls for Tan's resignation over Chinese business ties.
The rally comes eight months after the Treasury Department acquired a 10% stake in the semiconductor giant as part of a strategic pivot toward domestic chip production. While Intel remains below historic highs, the endorsement provides momentum for its turnaround narrative amid fierce competition in AI processors.
Market observers note the incident demonstrates how political signaling increasingly moves tech valuations, particularly in strategically sensitive sectors like semiconductors. The stock's performance outpaced the broader S&P 500, though some analysts caution the gains may reflect short-term sentiment rather than fundamental improvements.
