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Trump to Host Tech Leaders in First Rose Garden Event After Renovation

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U.S. President Donald Trump will host more than two dozen technology and business leaders for a dinner in the newly renovated White House Rose Garden on Thursday, a White House official confirmed. The guest list includes Meta founder Mark Zuckerberg, Apple CEO Tim Cook, Microsoft founder Bill Gates, and OpenAI CEO Sam Altman.

The event underscores Trump’s shifting relationship with Silicon Valley. Once marked by frequent clashes over issues like content moderation and antitrust, the dynamic has changed since his 2024 election victory. Tech executives have since sought closer ties with the administration, aligning with the rollback of diversity and equity initiatives while engaging Trump on artificial intelligence and emerging technologies.

White House spokesman Davis Ingle said, “The president looks forward to welcoming top business, political and tech leaders for this dinner and the many dinners to come on the new, beautiful Rose Garden patio.”

Elon Musk, CEO of Tesla and SpaceX, was not on the invite list, though he said on his social media platform X that he “was invited, but unfortunately could not attend,” adding that a representative would be present. Musk previously split with Trump after serving as an adviser earlier this year.

The Rose Garden renovation, completed in August, replaced the iconic lawn with a stone patio and umbrella-covered tables inspired by Trump’s Mar-a-Lago resort in Florida. The dinner follows a White House event on AI hosted by First Lady Melania Trump earlier in the day.

Other executives expected include Google CEO Sundar Pichai, Oracle CEO Safra Catz, Blue Origin CEO David Limp, Micron Technology CEO Sanjay Mehrotra, OpenAI President Greg Brockman, Microsoft CEO Satya Nadella, Palantir CTO Shyam Sankar, AMD CEO Lisa Su, Sacramento Kings owner Vivek Ranadive, and Meta’s chief AI officer Alexandr Wang.

Trump Signals Upcoming Tariffs on Steel and Semiconductor Chips

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U.S. President Donald Trump announced on Friday that he plans to impose tariffs on imports of steel and semiconductor chips in the coming weeks. Speaking to reporters aboard Air Force One en route to a meeting with Russian President Vladimir Putin in Alaska, Trump said the initial rates would be lower to give companies time to expand domestic production, followed by higher rates later. Exact tariff percentages were not disclosed.

“I’ll be setting tariffs next week and the week after on steel and on, I would say, chips,” Trump said, adding that he expects companies will choose to manufacture in the U.S. rather than face steep duties.

Trump has previously disrupted global trade with broad tariffs on exports to the United States and sector-specific duties, including on automotive products. In February, he raised steel and aluminum tariffs to 25% and later announced a potential increase to 50% to support domestic manufacturers. Last week, he also indicated a 100% tariff on semiconductor imports, though companies that commit to building U.S. production would be exempt.

The announcement coincided with Apple’s (AAPL.O) news that it will invest an additional $100 billion in the United States, underscoring the administration’s push for domestic manufacturing.

Trump Administration Explores Potential Stake in Intel Amid Push for Domestic Chip Manufacturing

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The Trump administration is reportedly in discussions with Intel (INTC.O) to potentially acquire a stake in the U.S. chipmaker, Bloomberg News reported on Thursday, citing sources familiar with the talks. The move would be another example of President Donald Trump’s interventions in industries considered critical to national security. In the past, Trump has promoted multibillion-dollar government partnerships in semiconductors and rare-earth minerals, including a deal with Nvidia (NVDA.O) and an arrangement with MP Materials.

Intel declined to comment on the report but reaffirmed its commitment to supporting the administration’s efforts to bolster U.S. technology and manufacturing leadership. White House spokesman Kush Desai cautioned that discussions about “hypothetical deals” should be viewed as speculation until officially announced.

Intel shares rose more than 7% during regular trading and added another 2.6% in after-hours trading. The discussions follow a recent meeting between Trump and Intel CEO Lip-Bu Tan, occurring just days after Trump publicly called for Tan’s resignation over his investments in Chinese technology firms, some of which have ties to the Chinese military. Details about the size of the stake and pricing are still under negotiation.

Analysts suggest the government stake would likely aim to support Intel’s domestic manufacturing expansion and job creation. Intel has previously warned it may need to exit chip manufacturing without sufficient external customers and has planned to slow construction on new Ohio factories. CEO Lip-Bu Tan, in his role for just over six months, has been tasked with reversing years of setbacks that left Intel behind in the fast-growing AI chip market dominated by Nvidia.

Market experts note that any potential deal could include tariffs designed to encourage major clients like Nvidia, AMD (AMD.O), and Apple (AAPL.O) to utilize Intel Foundry services. While government stakes in companies are not unprecedented, some investors question whether Intel, with stable revenue exceeding $50 billion annually despite a loss in industry leadership, requires direct government investment.