Reuters published a report saying SK Hynix might rent space in Intel's planned Ohio plant and could partner with Intel and large cloud-service companies. SK Hynix issued a formal statement after the story and said, "SK Hynix is exploring various options to strengthen its global competitiveness, but no specific plans or arrangements have been finalized at this time."
Intel's share price jumped by as much as 6.4% after the report. SK Hynix's U.S.-listed shares rose by as much as 3.3%. Intel did not comment on the Reuters story, but the company said it remains committed to its investments in Ohio.
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U.S. Commerce Secretary Howard Lutnick urged SK Hynix and other Asian chip producers to increase memory-chip output in the United States to help deal with a worldwide shortage, and SK Hynix has said it has not decided on any transaction with Intel. For your portfolio, the situation is fluid and investors will likely be watching whether any concrete deals or plans are announced.
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