Intel climbs on report SK Hynix in talks with co to make memory chips in US
BUZZ-Intel climbs on report SK Hynix in talks with co to make memory chips in US ** Intel INTC.O shares gain 5.2% to $102.15 in pre-market trading following a Reuters report that SK Hynix 000660.KS, SKHY.O is in talks with the co for a deal to make memory chips in the U.S.
** SKHY up 3% at $180.13
** Under one scenario, SK Hynix could lease part of INTC's planned Ohio facility, while another could see a venture with Intel and cloud firms, sources told Reuters
** A potential hurdle for any deal is possible opposition from the South Korean government, as advanced memory technologies are considered sensitive, the sources said
** Intel stock recently at 49x expected earnings, vs 5-yr avg forward PE of 36, suggesting it might be overvalued, per LSEG data
** Stock has rallied about 163.3% YTD, far outpacing an 11.8% rise in the Nasdaq .IXIC
(Reporting by Rashika Singh in Bengaluru)
Recent news on Intel
See all newsUS chip-related stocks advance on upbeat AI demand outlook
Brief: AMD, Intel Collaborate To Simplify AI Development On X86 CPUs Using PyTorch
US STOCKS-Nasdaq climbs as chip and AI-linked stocks bounce back
US STOCKS-Nasdaq climbs as chip and AI-linked stocks bounce back
US STOCKS ON THE MOVE-CoreWeave, Moderna, Datadog