SK Hynix denies Intel Ohio plant acquisition, shares fall

Shares of South Korean semiconductor manufacturer SK Hynix experienced significant volatility on Wednesday, July 22, 2026, following the company's swift denial of a media report claiming it was in talks to acquire an Intel manufacturing facility in Ohio. The denial erased substantial morning gains in Seoul trading and sent the company's American Depositary Receipts tumbling in premarket activity.

The price movement began after a report in the JoongAng Daily alleged SK Hynix was planning to utilize Intel's incomplete Ohio site for front-end memory chip manufacturing within a five-year window. Such a move would have represented a major expansion of the company's U.S. production footprint amid heightened geopolitical focus on domestic semiconductor supply chains. Shares in Seoul jumped as much as 9% during the trading day on the initial report.

However, the company quickly issued a formal clarification through a disclosure on the Korean stock exchange, KOSPI. The statement, attributed to Chief Disclosure Officer Kim Woo-hyun, explicitly said SK Hynix "has not pursued or decided to acquire Intel’s Ohio site." The company acknowledged it reviews various investment opportunities but...