Intel’s stock tripled under Lip-Bu Tan. He still has not told most employees the plan.

TL;DR

Intel’s stock has tripled under Lip-Bu Tan, who has won over Trump, partnered with Musk, and attracted Apple’s interest. The question is whether the relationships will produce the manufacturing execution that Intel has failed to deliver for a decade.

Intel’s stock has tripled in twelve months. Its chief executive still has not told most of his employees what the plan is.

Lip-Bu Tan, who became CEO in March 2025, has spent the first fourteen months of his tenure building relationships outside the company rather than restructuring the one inside it. He has won over Donald Trump, struck a partnership with Elon Musk, attracted interest from Apple, and turned the United States government into Intel’s third-largest shareholder. The stock hit a record in April, surging 24 per cent in a single day, its best performance since 1987. In April alone, shares rose 114 per cent, the best month in Intel’s...

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