SK Hynix and Intel Discuss First U.S. Memory Chip Plant

South Korean chipmaker SK Hynix is in exploratory discussions with Intel Corporation to establish its first memory chip manufacturing presence in the United States. The potential partnership centers on Intel's delayed manufacturing complex in Ohio, where SK Hynix may lease production space or form a joint venture with Intel and major cloud service providers to secure memory supplies for AI data centers.

The move follows pressure from U.S. Commerce Secretary Howard Lutnick, who urged Asian chipmakers to increase domestic production and threatened tariffs of up to 100 percent on firms that fail to do so. While SK Group Chairman Chey Tae-won has expressed support for building a U.S. factory, SK Hynix maintains that no specific plans or arrangements have been finalized. Separately, the company is proceeding with a $4 billion advanced packaging facility in West Lafayette, Indiana.

Intel shares rose between 4% and 8.7% following the reports, as analysts from Tigress Financial and Melius Research raised price targets. The deal would validate Intel's foundry strategy by securing a high-volume external customer. However, the partnership faces a significant hurdle from the South Korean government, which may block the transfer of sensitive national core technology under the Industrial Technology Protection Act.