SK Hynix Denies Intel Ohio Fab Acquisition Talks, Stock Recovers
SK Hynix shares fell 4% but recovered to a 2% loss after the company formally denied a Korea JoongAng Daily report that it was in talks to acquire Intel's under-construction Ohio semiconductor fab campus. In a Korea Exchange regulatory filing, SK Hynix stated it continuously reviews investment opportunities but has not pursued or decided to acquire Intel's Ohio site. Intel separately reaffirmed its commitment to the Ohio project, which was announced in 2022 with an initial $28 billion price tag. The broader memory sector held up, with Micron flat and Western Digital up 2%, indicating the sell-off was SK Hynix-specific. The market also shrugged off Middle East tensions, with the NASDAQ 100 recovering from an early dip. SK Hynix remains NVIDIA's primary HBM supplier, with its July 29 earnings as the next catalyst.
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