Intel, an American technology company, skyrocketed with a 7.4 percent hike in shares price which helped the company to cross the $104.44 billion market capitalization.
The stock market witnessed an air of gossip that the US administration has shown attraction towards taking a stake in a tech giant but White House officials called off by declaring it “speculations”.
White House spokesperson Kush Desai said: “Discussion about hypothetical deals should be regarded as speculation unless officially announced by the administration.”
Chip-maker firm's shares were already in market exchanges and investors were seen hurrying to purchase even after government response as self-styled whispers won and trading ended at $23.86.
President Donald Trump criticized Intel CEO Lip-Bu Tan on August 07, 2025 and asked him to resign immediately over alleged ties with Chinese Communist Party leaders as well as tech moguls.
The computer components maker met the president on Monday, August 11, 2025, and later on that day Trump praised Tan's success and life which resulted in shares price hike.
In addition to that, it was not the first time, Tech tycoon was blamed for proposed allegations.
The semiconductor manufacturer responded to Tan's financial investment decisions with Chinese firms back in April 2025: “CEO is deeply committed to advancing American economic security, making significant investments aligned with the president’s America First agenda.”
