Intel Shares Rise Amid Reports of Potential Partnership with SK Hynix
On September 16, Intel shares rose nearly 4% amid reports that the company is in talks with South Korean memory-chip manufacturer SK Hynix to produce chips domestically for the first time. This potential partnership could support Intel's growing foundry investments and help it lead domestic semiconductor manufacturing efforts. The broader market saw mixed performance on the day, with the S&P 500 down slightly while the Nasdaq Composite remained nearly flat. Other major chipmakers like Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing Company (TSMC) also posted modest gains as investors focused on foundry services and AI-related demand. Analysts have raised price targets for Intel, with Melius Research setting a $165 target and suggesting the stock could reach $200 in two years. While no formal deal has been announced yet, reports suggest SK Hynix may lease part of Intel's chipmaking capacity to expand its domestic production.
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Topics: AI_demand analyst_ratings foundry_services semiconductors