Intel Shares Rise as Reports Surface About Potential Memory Chip Production Partnership with SK Hynix at Ohio Campus
Shares of Intel and SK Hynix rose after Reuters reported ongoing discussions between the two companies to produce memory chips at Intel's $100 billion Ohio campus. The potential partnership could see SK Hynix either take over part of the site or form a joint venture with cloud firms, though neither party has confirmed any details yet. The news boosted semiconductor stocks more broadly than large-cap tech indices, as evidenced by the iShares Semiconductor ETF rising 2%. Micron Technology's shares remained relatively flat despite concerns that SK Hynix establishing U.S. production could challenge its home-market advantage under the CHIPS Act. Intel has not officially commented on the report but reiterated its commitment to developing the Ohio campus. If realized, this partnership would mark a significant shift in Intel Foundry’s strategy and provide validation for attracting third-party tenants.
Topics: CHIPS Act Intel memory chips Micron Ohio campus SK Hynix