Intel and SK Hynix Stocks Climb on Report of Potential US Chipmaking Partnership

Intel (INTC) stock rose 7.6% after reports that SK Hynix is in early talks to use Intel's Ohio facilities. The discussions are exploratory, with no finalized terms. Intel's foundry business has been struggling, and a deal with SK Hynix could validate its turnaround strategy. The rally outpaced broader market gains, suggesting investor reaction to company-specific news.

Intel (INTC) shares rose 7.67% to $108.80 on reports of potential talks with SK Hynix (SKHY), which gained 4.64%. Trading volume was 35% above average. The S&P 500 and Nasdaq also rose, with chip stocks gaining. Barclays upgraded Intel to 'Overweight'.

Intel (INTC) shares rose 8% to $108.80 on Thursday, following a 4% gain the prior day. The gains came amid reports of talks between SK Hynix and Intel about potential U.S. memory-chip manufacturing.

Intel's stock rose 7.7% to $108.80, driven by bullish analyst targets and potential manufacturing cooperation. Analysts set price targets ranging from $120 to $165, contingent on Intel securing external foundry customers. Q2 revenue grew 25% to $16.1B, but the foundry segment reported a $2.09B loss with minimal external revenue.

Intel's stock rose 8% after Reuters reported exploratory talks with SK Hynix for a U.S. memory chip deal, though neither company confirmed. SK Hynix shares also gained 5%. The potential deal involves Intel's Ohio campus or a joint venture. Analysts recently upgraded Intel's outlook.

SK Hynix (KRX:000660, OTCPL:HXSCL) and Intel (NASDAQ:INTC) are reportedly discussing a potential US memory chip manufacturing venture. Options include leasing Intel's Ohio site or forming a joint venture. Intel faces construction delays and financial strain, while SK Hynix aims to meet US demand. Both companies have not confirmed any finalized agreements.