Intel Shares Rise Premarket on Report of SK Hynix U.S. Manufacturing Talks
By Joe Stonor
Intel shares jumped premarket following a report the company is in talks with SK Hynix for the South Korean company to manufacture memory chips in the U.S., in what would be a win for President Trump's drive for more American-made chips.
The stock rose 4.85% premarket to $101.85 following the report, leading Nasdaq-100 futures.
The deal could involve SK Hynix leasing Intel's planned manufacturing plant in Ohio, Reuters reported, citing three unnamed sources. Alternatively, the two companies could form a joint venture along with cloud-computing firms seeking to lock in chip supply.
Any deal could face opposition from the South Korean government, the sources told Reuters, with SK Hynix's chip business seen as nationally significant.
More important than any partnership between Intel and SK Hynix is the potential for the pair to enter into joint ventures with hyperscalers, Citrini analyst Jukan Choe said in a post on X.
An Intel spokesperson said the company doesn't comment on speculation.
"However, Intel is committed to Ohio, and we continue with our investments to accelerate the site readiness," the spokesperson said.
SK Hynix didn't immediately responded to a request for comment. The company told Reuters that it is looking at establishing new production bases, but that nothing had been determined yet.
Intel has benefited from significant federal support, with the U.S. government taking a 10% stake in the company in August 2025. Intel shares have more than quadrupled following the government's investment.
President Trump has said he wants to significantly increase U.S. chip production before the end of his presidency. After Apple agreed to use Intel-made chips in some of its products earlier this year, Trump said he helped the Santa Clara-based company because of the need to design and build more chips in the U.S.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
September 16, 2026 06:21 ET (10:21 GMT)
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