Intel stock jumps 6% after CEO meets with Trump as U.S. stake doubles value

Intel's stock experienced a remarkable 6% increase on Friday, following a significant meeting between CEO Lip-Bu Tan and former President Donald Trump. This surge adds to a notable rally that has seen Intel’s stock value more than double since the U.S. government acquired a stake in the company back in August. In a post on Truth Social, Trump expressed pride in the U.S. government's role as a shareholder in Intel. He praised CEO Tan as 'very successful' and highlighted the introduction of Intel's latest chip, which he claimed was 'designed, built, and packaged right here in the U.S.A.' In response, Tan shared his gratitude on X, stating he was honored to have the support of both Trump and U.S. Secretary of Commerce Howard Lutnick. Tan also mentioned the recent shipping of Intel's Core Ultra Series 3 CPU processors, marking a significant milestone as the first major product developed using Intel 18A technology. The U.S. government's investment in Intel, negotiated at $8.9 billion for 433.3 million shares at $20.47 each, has proven lucrative, as the stake is now valued at approximately $19 billion. Since the beginning of the year, Intel's stock has risen nearly 20%.