Intel and SK Hynix Deny Ohio Factory Takeover

Intel and SK Hynix have both denied reports of a potential takeover of Intel's Ohio manufacturing site despite recent market rumors.

Intel and SK Hynix have officially denied a media report suggesting an agreement for the South Korean firm to take over Intel's factory site in Ohio. While stock prices for both companies rose following the rumors, SK Hynix stated it has made no efforts toward a purchase, and Intel reaffirmed its commitment to the project. Originally announced in 2022 with plans for eight factories, the Ohio site's targeted start date was recently pushed to 2031 or later. This development comes as Intel's foundry business reports financial losses, though the company recently invested in Intel 3 production in Ireland. Despite the denial, SK Hynix's Chairman noted in July 2026 that the market requires more DRAM capacity. Intel maintains that it remains dedicated to the Ohio project initiated two years ago.