Intel and SK Hynix are exploring partnership opportunities to manufacture memory chips in the United States, reportedly centering on Intel's long-delayed Ohio manufacturing complex, with possibilities ranging from SK Hynix leasing capacity to a broader joint venture involving cloud companies. No formal partnership has been announced, and SK Hynix stressed that no specific plans or arrangements have been finalized. Since reports of the potential partnership surfaced Wednesday, Intel shares have surged roughly 10%, while SK Hynix has climbed about 5%; SK Hynix stock has risen 20% since its U.S. Nasdaq debut in July, while Intel is up about 4% over the same period. Intel's Q2 revenue jumped 25% year over year to $16.1 billion, with Data Center and AI revenue surging 59% to $6.3 billion and Foundry revenue up 31%, and management guided Q3 sales to $15.8-$16.8 billion, representing 15% growth. The Zacks Consensus calls for Intel's fiscal 2026 revenue to rise nearly 18%, followed by another roughly 14% increase in FY27 to $70.89 billion, with FY26 EPS expected to soar to $1.50 from $0.42 per share last year and FY27 EPS projected at $1.96. SK Hynix, which began mass shipments of HBM4 and has shipped samples of HBM4E, trades at a forward P/E multiple of 7X versus more than 100X forward earnings for Intel, and carries a Zacks Rank #2 (Buy) while Intel holds a Zacks Rank #3 (Hold).
SK Hynix IncSK Hynix is exploring a US memory-chip manufacturing partnership, potentially leasing Intel Ohio capacity or forming a joint venture.
Intel CorporationIntel and SK Hynix are exploring a US memory-chip partnership potentially using Intel's Ohio complex, a concrete tie-up for Intel's foundry business.
