SK Hynix in Talks with Intel to Make Memory Chips in U.S. for First Time
INTC has more than doubled off its 52-week low of $24.22.
Summary
Reuters reports SK Hynix is in talks with Intel to manufacture memory chips on U.S. soil for the first time. This would expand Intel's foundry business into memory and deepen its U.S. manufacturing footprint, following the Apple chip partnership announced in June. The news lifted SK Hynix shares 4.08% and contributed to a rebound in South Korean chipmakers. If finalized, the deal would be a significant win for Intel's foundry strategy and U.S. semiconductor supply chain.
At the time of this announcement, INTC was trading at $97.06 on NASDAQ in the Technology sector, with a market capitalization of approximately $513.5B. The 52-week trading range was $24.22 to $142.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.