SK hynix officially denied a Korean media report that it had decided to acquire Intel's unfinished Ohio semiconductor campus, but the company's own statement stopped short of ruling out a joint venture between the two firms. The JoongAng Ilbo had reported that SK hynix was in talks to buy the site outright, aiming to produce memory chips in the United States within five years, and that internal review and government approval were already underway. Hours later, SK hynix issued a formal disclosure saying it continuously reviews acquisition opportunities but had neither pursued nor decided to buy the Ohio fab. Intel separately denied selling the site. Neither company, however, denied that a joint venture could be on the table. Intel broke ground on the Ohio campus in 2022 under CHIPS Act support, planning eight fabs and a 100 billion dollar buildout, but pushed operations back to 2030 or 2031 after mounting foundry losses. The Trump administration has been pressing both SK hynix and Samsung to build memory production, not just packaging, on US soil, and SK Group chairman Chey Tae-won recently said memory prices are abnormally high and more supply is needed. Whatever the final structure, Intel's idle Ohio site and SK hynix's need for US capacity point the same direction.
Why it matters · A formal denial rarely means a deal is dead, especially when neither side rules out a joint venture and both have clear reasons to strike one, Intel needs cash and a use for its stalled Ohio site, SK hynix needs US memory capacity to satisfy Washington. If a JV or acquisition eventually happens, it would reshape who controls US memory chip production and could ease the memory price spike Chey Tae-won flagged.
Worth asking · SK hynix and Intel both denied an acquisition but left the door open to a joint venture. Is this the start of a real US memory chip tie-up, or a case of Korean media running ahead of the actual talks?