Shares of Intel and SK Hynix advanced following Reuters reporting that the two companies are engaged in discussions about manufacturing memory chips at Intel’s $100 billion Ohio facility. Intel stock increased 4% to $100.55, while SK Hynix shares rose 3.3% to $180.52 in early trading.
According to the Reuters report, the talks involve two potential structures for the arrangement. One scenario would involve SK Hynix assuming operations of a portion of Intel’s Ohio campus, while the other would establish a joint venture between Intel, SK Hynix, and major cloud computing companies interested in securing memory supply. Intel stated the report was speculative and declined to provide additional comment, while reaffirming its commitment to developing the Ohio site. SK Hynix said it is “reviewing various measures, including establishing additional production bases, to strengthen the competitiveness of its memory business,” and noted that “no matters have been determined at this stage.”
The planned manufacturing facilities are not anticipated to become operational until 2030 and 2031, according to Reuters. Successfully securing an outside tenant would represent significant validation for Intel’s foundry business pitch to third parties. The semiconductor sector showed broader momentum, with the iShares Semiconductor ETF gaining 2% to $506.85, outpacing the NASDAQ 100 benchmark, which advanced 0.6%.
The development presents a more complex situation for Micron Technology, the leading U.S.-based memory producer. Micron’s shares moved up just 0.9% to $935.80 as investors assessed whether Korean memory production on American soil could diminish Micron’s competitive advantage under domestic CHIPS Act benefits. South Korea’s trade ministry indicated that advanced memory technologies may require regulatory review under the Industrial Technology Protection Act, and that any production decision ultimately rests with SK Hynix.
Neither company has confirmed a definitive agreement, and the talks remain in exploratory stages. Intel’s stock gains reflect investor optimism about a possibility rather than a completed transaction. Upcoming catalysts include Intel’s third-quarter 2026 earnings release and Micron’s fiscal-quarter results in the near term.
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