President Donald Trump said members of his Cabinet would continue discussions with Lip-Bu Tan in the coming days after meeting with the Intel Corp. chief executive officer at the White House on

Trump’s comments indicate a change of heart since last Thursday, when he called for Lip-Bu Tan to “resign immediately ” because he is “highly conflicted” via a post on Truth Social. Such conflicts of interest were outlined in a letter by Arkansas Senator Tom Cotton the day before, who alleged Tan “has deep ties to the Chinese Communists.”

Now that Lip-Bu Tan has regained President Donald Trump's support, should investors turn bullish on Intel stock?

Less than a week after President Donald Trump called for the resignation of Intel’s CEO, shares of the chipmaker are rising after Trump said he had a “very interesting” meeting with Lip-Bu Tan.

Should Intel CEO Lip-Bu Tan resign over his alleged ties to Chinese companies? Who would replace him? Seeking Alpha analysts weigh in. Read more here.

The 65-year-old technology and venture capital industry veteran has amassed a fortune worth at least $1.1 billion, according to the Bloomberg Billionaires Index, which is calculating Lip-Bu Tan’s net worth for the first time.

President Trump said Monday afternoon that he had met with Intel CEO Lip-Bu Tan, after he had abruptly called for Tan’s immediate removal last week over ties to Chinese businesses. “I met with Mr. Lip-Bu Tan,

Patrick Moorhead, Moor Insights and Strategy CEO, joins 'Power Lunch' to discuss Moorhead's reaction to the latest news regarding Intel, the government's ties to the company and much more.

Shares of Intel ( INTC 3.73%) are soaring this week, up 24.1% as of 3:13 p.m. ET. The spike comes as the S&P 500 ( ^GSPC -0.22%) was up 1%, and the Nasdaq-100 was up 0.5%.