Key Takeaways

President Donald Trump said he had a “very positive meeting” with Intel CEO Lip-Bu Tan, a statement that helped propel Intel shares sharply higher on Friday. Trump also highlighted that the U.S. government is “proud” to be a major shareholder in Intel after acquiring a 10% stake in the company last year.

Intel’s stock climbed to its highest level in nearly two years following the president’s comments on social media.

Intel shares surged nearly 10% in Friday trading, making the chipmaker one of the top-performing stocks in the S&P 500. The rally came after President Trump publicly praised Intel (INTC) CEO Lip-Bu Tan in a post on Truth Social.

“I just finished a great meeting with the very successful Intel CEO, Lip-Bu Tan,” Trump wrote Thursday, adding that the U.S. government is “proud” of its ownership stake in the company.

Earlier this year, Trump had questioned Tan’s leadership amid concerns about his past investments tied to Chinese companies. However, that stance shifted following a meeting with Tan in August, after which the administration finalized a deal for the U.S. government to acquire a 10% stake in Intel.

Why This Matters to Investors

Trump’s renewed show of confidence has given Intel shares a significant boost, even as the stock remains below its long-term highs. The company continues working to convince investors that its turnaround strategy is sustainable.

Momentum also built last year after Intel announced a high-profile partnership with Nvidia (NVDA), along with growing speculation about new customers. Those developments helped fuel a strong rally in the second half of the year, with Intel shares nearly doubling in value—most of the gains occurring between early August and December.

The recent surge has made Intel one of the strongest performers in the S&P 500 so far this year, with the stock gaining nearly 25% in January alone.

Other semiconductor stocks also moved higher on Friday, including Broadcom (AVGO), Micron Technology (MU), and Advanced Micro Devices (AMD), contributing to a broader market rally that pushed the S&P 500 to a new record high.