Intel Corp (NASDAQ: INTC) shares are trading higher following a report that SK Hynix is in discussions to manufacture memory chips in the United States for the first time. The talks reportedly center on Intel’s Ohio facility, with potential arrangements including a lease or a joint venture involving cloud computing firms.
The report, cited by Reuters, suggests that a deal would place SK Hynix's memory production on U.S. soil. This potential partnership is viewed as a win for the Trump administration’s efforts to bring chip manufacturing back to the country, particularly amid an AI-driven memory shortage. However, a source cautioned that the talks remain early and exploratory.
SK Hynix has pushed back against the report, denying that any concrete arrangements have been finalized. The company stated it continues to look at different avenues for staying competitive globally but emphasized that “no specific plans or arrangements have been settled.”
Despite the denial, the reported talks align with comments from SK Group chairman Chey Tae-won. In July, he stated that mounting pressure from customers and governments makes building a U.S. plant a necessity for the company, even though construction costs in the U.S. are higher than in South Korea.
Intel’s stock is currently showing exceptional strength. At the time of publication, shares were up 4.33% to $101.35, according to Benzinga Pro data.
