Korean memory giant SK hynix has denied reports that it is interested in buying Intel's memory manufacturing facilities in Ohio. The firm's clarification came after a report in the Korean media claimed that SK hynix, under pressure from the US government and high demand, was interested in establishing a memory manufacturing facility in America. However, in its statement, SK hynix denied that it was either pursuing or acquiring Intel's Ohio facilities to manufacture memory chips.
SK Hynix Rejects Report Of Pursuing Negotiations To Buy Intel's Ohio Memory Facilities
Today's report isn't the first time that reports of a partnership between Intel and SK hynix have made rounds in the media. Intel famously sold off its storage and memory manufacturing facilities to the Korean memory chip manufacturing giant in 2022 for a $9 billion price tag.
Crucially, the sale involved NAND memory manufacturing in Dalian, China as part of Intel's efforts to streamline its balance sheet and focus on its core business operations and efforts to set up a contract chip manufacturing business under Intel Foundry.
However, with the recent surge in memory chip demand, even the NAND market has been in turmoil since DRAM chips, which AI GPUs primarily use, are built with machines that are also used in NAND production.
Amidst this context, a report from the Korean press claimed that SK hynix was buying Intel's Ohio facilities to use them for memory chip production. The report went as far as to claim that the memory company was moving ahead with the deal after having cleared internal reviews and government approval.
However, soon after the news hit the wires, SK hynix refuted it in an update shared on the Korean stock exchange, KOSPI. The machine translated version of the firm's statement reads:
This disclosure is a clarification regarding the article "SK Hynix's Bold Move… Buying Intel's Ohio Plant," published in the JoongAng Ilbo on July 22, 2026.
- We are continuously reviewing various investment and acquisition opportunities for business purposes.
- However, there is no fact that we are pursuing or have decided to acquire Intel's Ohio site and Fab, as reported in the article.
(Chief Disclosure Officer) Kim Woo-hyun, Head of Finance
SK hynix has been the focus of the market after it listed its American Depository Receipts (ADRs) on the NASDAQ exchange. The firm is the largest memory chip manufacturer in the world and is known for its close relationship to AI GPU giant NVIDIA Corporation.
About the author: Ramish is a seasoned technology writer and editor with more than a decade of experience. He specializes in semiconductor fabrication and market analysis. With a background in finance and supply chain management - via his bachelors in Finance and a micromasters in supply chain management from MIT - Ramish combines financial rigor with deep industry insight to deliver accurate and authoritative coverage.
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