SK Hynix said Wednesday that no plans have been confirmed for a potential US memory chip deal with Intel.
The denial came after Reuters reported the two companies were in talks.
“No decisions have been made regarding the two scenarios mentioned in the article,” SK Hynix said.
The deal under discussion
Reuters, citing three people familiar with the discussions, said SK Hynix and Intel were in talks over a deal that could mark the first time SK Hynix produces memory chips on US soil.
One scenario under discussion would see SK Hynix lease part of Intel’s long-planned semiconductor facility in Ohio.
A second scenario involves a joint venture between SK Hynix, Intel, and major cloud companies looking to secure their own memory supplies.
Intel has committed to developing its Ohio site, though construction delays have pushed the planned start of production to 2030 and 2031.
A deal with SK Hynix could help ease some of the financial pressure on Intel, according to Reuters.
Intel did not immediately respond to a request for comment from Investing.com.
Shares rose despite the denial
Even with SK Hynix’s pushback, both stocks moved higher.
In premarket trading, Intel traded 2.82%, while SK Hynix’s US-listed shares rose 3.43%.
SK Hynix’s Korea-listed shares had also gained in the prior session, outperforming the broader KOSPI index.
The stock ended the day around 4% higher.
Why Seoul is watching closely
Any move to produce advanced memory such as HBM or DRAM in the US could face scrutiny from South Korean authorities, since the technologies are considered sensitive, according to the people cited by Reuters.
South Korea’s trade ministry told Reuters that the decision would ultimately be SK Hynix’s to make, but noted that projects involving nationally important technology could be subject to review under the country’s Industrial Technology Protection Act.
What’s driving the interest
The reported talks come as Washington presses semiconductor companies to expand US manufacturing amid a memory-chip shortage driven by AI and data center demand.
SK Hynix already has a chip-packaging facility under construction in Indiana and recently completed a secondary Nasdaq listing.
Chairman Chey Tae-won said in July that the company needed to build a factory in the United States if possible, suggesting the broader ambition remains alive even as SK Hynix declines to confirm specifics of this particular report.
The talks also arrive at a pivotal moment for Intel, which has struggled to keep pace with rivals in advanced chipmaking and has leaned on government and industry partnerships to fund its expansion plans.
Bringing in SK Hynix, one of the world’s largest memory chip makers alongside Samsung, would give Intel a way to fill capacity at its delayed Ohio site while tapping into surging global demand for AI-related memory chips, a segment currently dominated by South Korean and US suppliers.
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