SK Hynix Denies Acquiring Intel US Fab, Shares Fall Below $1,347 Level
SK Hynix officially denied rumors regarding the acquisition of Intel’s Ohio wafer facility, correcting market expectations of a rapid U.S. capacity expansion. Following the clarification, the stock price retreated from intraday highs, dropping below the 2 million KRW threshold to trade at 1,959,000 KRW. While the specific acquisition is off the table, the company remains committed to U.S. growth through its ongoing Indiana HBM packaging project. Chairman Chey Tae-won confirmed that further global facility expansion remains under consideration, contingent upon local infrastructure and supply chain conditions, maintaining a long-term strategic focus on supporting surging AI demand.
TradingKey - SK Hynix denies acquiring Intel's US wafer fab, causing its share price to come under pressure and briefly fall below the 2 million won ($1,347) threshold.
On July 22, SK Hynix officially debunked market rumors regarding its 'proposed acquisition of Intel's wafer fab and land facilities in Ohio, USA'. The company issued an official statement today to explicitly deny the rumor, stating that it 'has neither decided to acquire the plant's assets nor has it ever sought such an acquisition.'
Statement released by SK Hynix, Source: DART
Affected by the clarification of the acquisition rumors, SK Hynix's share price came under pressure and moved lower intraday. This morning, SK Hynix's shares surged over 9% at the open, briefly breaking through the 2 million won mark. Currently, SK Hynix's gains have narrowed to 6.7%, falling below the 2 million won threshold, temporarily trading at 1,959,000 won.
SK Hynix share price chart, Source: TradingView
Previously, investors had hoped that SK Hynix could rapidly expand its US capacity by acquiring existing plants to meet the rising demand for High Bandwidth Memory (HBM) in the AI era. Now, the reversal of the news has dashed these expectations, causing its share price to fluctuate and weaken.
Despite denying the acquisition news, it does not mean SK Hynix is giving up its US footprint. Currently, SK Hynix is building an advanced HBM packaging facility in Indiana, USA, while investment plans for a wafer fab have not yet been officially finalized. However, SK Group Chairman Chey Tae-won recently stated publicly that the group is scouting global locations for memory wafer fabs, and claimed that if the US meets conditions regarding power, water, land, and supply chains, the group would not rule out establishing more wafer fabs there in the future.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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