Overview
- A JoongAng Daily report said SK Hynix was targeting Intel’s under-construction Ohio campus for front-end memory production within five years, a claim the company did not confirm.
- SK Hynix filed a disclosure on the KOSPI exchange stating it “has not pursued or decided to acquire Intel’s Ohio site” while saying it continues to review investment and acquisition opportunities.
- The denial triggered a roughly 6.6% drop in SK Hynix ADRs in U.S. premarket trading and erased a Seoul intraday rally that had lifted shares by as much as 9% earlier in the session.
- Investors shifted focus to Alphabet’s quarterly results for guidance on AI infrastructure spending because such capital outlays are a key proxy for future demand for high-bandwidth memory.
- The company completed a large Nasdaq ADR offering in early July that raised about $26.5 billion for HBM capacity and packaging builds, a move that has increased U.S. investor exposure and made shares more volatile while analysts warn of multi-year execution risks for new fabs.