Trump's Attitude Toward Intel CEO Wu Tan-wei Reverses: Asks Him to Resign Days Later, Calls Him "Extremely Achieved"! NVIDIA Agrees to Pay 15% Royalty to Federal Government

On Monday, US President Trump stated that he and his cabinet members had met with Intel CEO Wu Tan-wei. Just a few days prior, he had demanded the resignation of this chip manufacturer's leader. Intel's stock price rose 2% in after-hours trading.

"I met with Mr. Wu Tan-wei, the CEO of Intel, as well as Commerce Secretary Howard Luetink and Treasury Secretary Scott Bezent," Trump wrote on Truth Social. "This meeting was very meaningful. His success and rise are an outstanding story. Mr. Wu and my cabinet members will continue to communicate and present recommendations to me next week. Thank you all for paying attention to this matter!"

Subsequently, Intel issued a statement after meeting with US President Trump: "Today, Intel CEO Mr. Wu Tan-wei was honored to meet with US President Trump, discussing Intel's commitment to strengthening the United States' leadership in technology and manufacturing. We appreciate the president's strong leadership in promoting these key priorities and look forward to closely cooperating with him and his government in revitalizing this great American company."

Trump's latest statement starkly contrasts with last week's tone. On Thursday, the president wrote on Truth Social that Wu Tan-wei "has a severe conflict of interest and must resign immediately. There is no other solution."

Intel responded later in the day, stating that the company, its board, and Wu Tan-wei "are resolute in pushing forward the national and economic interests of the United States."

The Trump administration has taken a hardline stance towards businesses, particularly in the semiconductor market. Last weekend, NVIDIA agreed to pay 15% royalties to the federal government in exchange for export control permits, allowing it to resume selling H20 chips. NVIDIA CEO Huang Ren-hoon visited the White House on Friday to meet with Trump.

President Trump stated on Monday that he initially demanded a 20% royalty from NVIDIA, but after negotiations with CEO Huang Ren-hoon, this percentage was reduced to 15%.

At 65, Wu Tan-wei took over Intel when the company was in financial difficulties. Despite being led by NVIDIA in the artificial intelligence market, Intel failed to make significant progress. Meanwhile, it was still investing heavily in setting up chip manufacturing capabilities for other companies.

Wu Tan-wei was born in Malaysia and grew up in Singapore before moving to the United States and earning a master's degree from MIT. In July, he said that his initial few months as Intel CEO were not easy, with the company undergoing layoffs and reducing investments in its contract manufacturing department. He told employees that Intel had canceled plans for factories in Germany and Poland and would slow down development in Ohio.

"Turning around the company's situation requires time and patience," Wu Tan-wei said during a phone conference with analysts in July. "We have many issues to resolve before we can drive the company forward."

As of Monday's closing, Intel's stock price had risen 3% this year, while the S&P 500 index rose 8.4%.