Rumor has it that SK Hynix (SKHY.US) plans to make memory chips in the US for the first time to rent Intel (INTC.US) Ohio factory or establish a joint venture

The Zhitong Finance App learned that South Korea's SK Hynix (SKHY.US) is currently negotiating a deal with Intel (INTC.US). If successful, it will produce memory chips in the US for the first time. One potential solution is for SK Hynix to rent part of Intel's long-term planned fab facility in Ohio; the other is to establish joint ventures with Intel and major cloud vendors that are anxious to lock in the supply of memory chips.

However, sources said that potential opposition from South Korea could pose a major obstacle. A source said that the relevant negotiations are still in the exploration stage and stressed that no decisions have been made; SK Hynix may also consider other transaction structures.

SK Hynix said in a statement that it is “evaluating various measures, including the establishment of more production sites, to enhance the competitiveness of the storage business,” but “no matters have yet been determined.”

Korea has a number of strategic considerations. South Korea has designated the semiconductor industry as a national strategic industry, requiring companies to obtain government approval before setting up overseas production bases.

SK Hynix and Samsung Electronics have been requested by the South Korean government to speed up the construction of the Yongin semiconductor industry cluster, and Seoul also intends to use SK Hynix's US investment commitment as a bargaining chip in broader investment negotiations between South Korea and the US. Of the 350 billion US dollar investment plan proposed by South Korea, about 150 billion US dollars have already been allocated to the shipbuilding industry, and the remaining 200 billion US dollars have yet to be determined. Seoul does not want this pool of capital to be locked in advance by a single company.

Furthermore, since such technology is regarded as sensitive technology, any agreement to produce advanced memory chips such as HBM or even DRAM may be opposed by the South Korean government.

Intel declined to comment on what it called “speculation,” but added that the company is continuing to invest in Ohio to prepare the site for opening.

Analysts pointed out that if reached, the deal would be a win-win for Intel and the Trump administration — the former getting a much-needed operating partner to share the huge costs of the Ohio plant, while the latter could flaunt it as another landmark achievement for the semiconductor manufacturing industry returning to the US.

There is still a shortage of AI-powered memory chips. Due to the current boom in AI and data center investment, the supply of memory chips is extremely tight, and SK Hynix dominates the HBM market.

According to Counterpoint Research data, SK Hynix remained number one in the global HBM market with 50% revenue share in the second quarter of 2026, but there was a decline from 58% in the previous quarter; Samsung Electronics jumped from 21% to 33%, and Micron ranked third with 18%. SK Hynix is facing increasing competitive pressure in the HBM field, which also pushes it to a certain extent to seek a production capacity layout closer to American customers.