Intel and SK hynix shares jumped after reports of their partnership in the US went viral. Intel shares rose about 4%, while SK hynix gained around 3% on Wednesday, September 16. The reports highlighted that SK hynix is planning to manufacture chips at Intel's USD 100B Ohio campus, with plants not due until 2030. However, no deal is signed yet.
The partnership gained more attention because AI companies need more memory chips for servers and data centers. SK hynix is a major supplier of high-bandwidth memory, which is widely used in AI systems. Whereas Intel faced delays at its Ohio project. Initially, production was expected to begin in 2025, but it is still under development. A deal with SK hynix could give the site a new role while adding more memory production in the US.
SK hynix already has a chip packaging plant under construction in Indiana. The company does not yet make memory chips in the US. Moving some production to Ohio could help it build a larger presence in the country.
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The possible deal could help both companies in different ways. Intel could find a new use for its delayed Ohio site while SK hynix could gain another location for memory production and move closer to US customers.
The timing is also important. The AI race is brutal and companies are demanding powerful chips to run stronger AI systems. More local production could help support this demand over time.
The talks are still at an early stage. Any deal could face cost and technology challenges. South Korea may also review an agreement involving advanced memory technology. If the plan moves ahead, Intel’s Ohio site could take on a new role in the growing US AI chip supply chain.