President Donald Trump on Aug. 7 called for Intel CEO Lip Bu Tan to resign, accusing him of being “highly conflicted” over reported investments in Chinese semiconductor firms. The remarks, expressed via a post on his Truth Social network,

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.

Japan’s SoftBank will invest $2 billion into struggling American chipmaker Intel, the two companies announced Monday.

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.”

Intel and SoftBank announced on Monday that the Japanese conglomerate will make a $2 billion investment the embattled chipmaker Intel. SoftBank will pay $23 per share for Intel's common stock. Intel shares rose 4% in extended trading.

Intel eyes $2 billion investment from SoftBank, which should make the VC firm one of the chipmaker’s largest shareholders.

The latest developments in the ongoing soap opera that is Intel sees the federal government considering purchasing a stake in the company in a bid to speed up completion of its delayed advanced fabrication facilities, while yet another executive is casting aspersions on CEO Lip-Bu Tan.

Japanese conglomerate SoftBank has agreed to make a $2 billion investment in Intel in a deal described as a commitment to advanced technology and semiconductors in the United States.

Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.

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.

He may have won over the deal-besotted Trump, but rebuilding America’s chip manufacturing prowess is a job few envy