Intel shares jumped Wednesday after reports that SK Hynix is exploring a deal to manufacture memory chips at Intel’s Ohio semiconductor complex, potentially bringing the South Korean chipmaker’s memory production to the U.S. for the first time.
INTC gained roughly 5%, while SK Hynix’s U.S.-listed shares rose around 3% following the news. At one point, Intel was up as much as 5.5%.
The talks are still exploratory, but they arrive as booming AI demand creates an increasingly tight market for advanced memory.
Intel’s Ohio Fab Could Get a Major New Customer
One option under discussion would have SK Hynix lease part of Intel’s planned Ohio manufacturing complex. Another possibility is a joint venture involving Intel, SK Hynix and large cloud-computing companies looking to secure memory supplies. No final decision has been made.
For Intel, a deal could give its delayed Ohio project another important role in the AI supply chain.
It would also add to Intel’s growing list of potential U.S. manufacturing customers. Earlier this year, Intel shares rallied 9% after an Apple U.S. chip partnership was announced.
AI Is Creating a Memory Chip Crunch
SK Hynix is one of the biggest beneficiaries of the AI boom because it is a major supplier of high-bandwidth memory, or HBM, used alongside AI accelerators.
Demand for memory is becoming increasingly important as companies build larger AI systems and data centers. The potential Intel partnership could help SK Hynix move production closer to major American cloud customers while reducing reliance on Asian manufacturing.
That same infrastructure boom is spreading far beyond semiconductors. U.S. data centers could require a $110 billion power buildout as AI electricity demand surges.
Another Catalyst for INTC Stock
The SK Hynix report adds another catalyst to an extraordinary year for Intel.
INTC has nearly tripled in 2026, while the U.S. government’s large Intel position has appreciated dramatically. Just last week, Intel stock jumped 9% as a reported CPU price increase added billions to the value of the U.S. stake.
The latest talks don't guarantee a deal. SK Hynix said it is reviewing various options for additional production bases but that nothing has been decided.
