Intel shares climbed after reports that the company is in early discussions with SK Hynix, the South Korean chipmaker, about producing memory chips in the United States. The talks, still described as preliminary, would give Intel a new customer for its underused domestic manufacturing capacity.
The move matters because Intel's foundry business, the division that makes chips for other companies, has struggled to win outside customers since the company began its turnaround push. A deal with SK Hynix, one of the world's largest memory chip makers, would mark a rare vote of confidence from a major external partner.
No terms, timeline or chip type have been confirmed. It remains unclear whether the talks will produce a binding agreement or what capacity would be involved.