SK Hynix Says Exploring Options After Report of Intel Tie-Up

SK Hynix Inc. said that it’s exploring options to boost its global competitiveness after a report that it may team up with Intel Corp. to make semiconductors in the US.

The South Korean memory chipmaker issued the statement after Reuters reported the company may potentially lease part of ‌Intel’s long-planned chipmaking facility in Ohio or form a venture with Intel and major cloud computing firms.

The memory chipmaker says it hadn’t made a decision about a deal with Intel.

“We would like to clarify that nothing has been finalized regarding cooperation with any specific companies mentioned in the article or memory chip production in the United States,” the company said in its statement. “SK Hynix is exploring various options to strengthen its global competitiveness, but no specific plans or arrangements have been finalized at this time.”

Intel shares rose as much as 6.4%, while SK Hynix’s US traded stock gained as much as 3.3%.

US Commerce Secretary Howard Lutnick has urged SK Hynix and other Asian chipmakers expand memory chip production in the US to help address a global shortage.

Intel declined to comment on the Reuters report, but said it’s committed to its Ohio investments.

Read More: Lutnick Presses SK Hynix, Samsung to Boost Memory Output in US