From Yahoo Finance · · 1m 20s
Intel and SK Hynix Discuss Ohio Memory Chips
Intel and SK Hynix in talks to make memory chips at Ohio campus, boosting stocks but Micron faces competition
In brief
Intel and SK Hynix in talks to make memory chips at Ohio campus, boosting stocks but Micron faces competition Intel's Ohio campus could attract SK Hynix as a tenant, potentially reducing Micron's home-market advantage under CHIPS Act Originally reported by Yahoo Finance.
Intel Stock Rises
Intel shares jumped 4% to $100.55 after Reuters reported talks with SK Hynix to produce memory chips at its Ohio campus.
SK Hynix Stock Climbs
SK Hynix shares increased 3.3% to $180.52 as it explores U.S. production for memory chips with Intel.
Micron Faces Challenge
Micron's shares barely moved as it risks losing its home-market edge under the CHIPS Act if SK Hynix secures U.S. production.
Ohio Campus Details
Intel pledged $100 billion for the Ohio campus, with memory plants not expected to start until 2030 or 2031.
Joint Venture Possibility
Reuters reported two potential structures: SK Hynix taking over part of Intel's campus or a joint venture with cloud companies.
CHIPS Act Impact
SK Hynix's U.S. production could directly compete with Micron in national-security procurement under the CHIPS Act.
Market Reaction
Semiconductor ETF SOXX gained 2%, while Micron's shares remain flat despite potential competition from SK Hynix.
What it means
Intel's Ohio campus could attract SK Hynix as a tenant, potentially reducing Micron's home-market advantage under CHIPS Act
