SK Hynix (SKHY, Financials) shares were briefly supported by rumors that the South Korean memory chipmaker was in talks to buy Intel's semiconductor campus in New Albany, Ohio, but the company disputed the reports.
The business claimed in a regulatory filing that it periodically examines investment prospects but has neither pursued nor decided to acquire Intel's Ohio facility or fabrication facilities.
The comment follows media reports that SK Hynix is exploring buying the facility to build front-end memory chip manufacture in the United States over the next five years.
U.S. chipmaker Intel also dismissed the notion, confirming its commitment to the multibillion-dollar Ohio project, although delays have delayed initial production into the 2030-2031 time frame.
The Ohio complex, first announced in 2022, will cover roughly 1,000 acres and potentially hold up to eight fabrication factories, with a long-term investment that might top $100 billion.
A sale would help Intel raise cash, while providing SK Hynix a bigger U.S. manufacturing base, the report said. But both companies said there is no such transaction in the works.
Demand for sophisticated AI chips remains strong and investors will be following Intel's foundry strategy and SK Hynix's foray into manufacturing.