Intel is in talks with SK Hynix about having the South Korean company manufacture memory chips in the United States, according to reports.
Shares in Intel, the Santa Clara-based semiconductor maker, rose 5.1% in early trading, adding roughly $27 billion to its market value and leading Nasdaq-100 futures.
The discussions could involve SK Hynix leasing part of Intel's planned manufacturing campus in Ohio, or forming a joint venture with cloud-computing firms to secure chip supply.
Intel signalled it remained committed to the site.
"However, Intel is committed to Ohio, and we continue with our investments to accelerate the site readiness," a company spokesperson said.
SK Hynix struck a more cautious note.
It said it was exploring options to strengthen its global competitiveness, but that no specific plans or arrangements, including US production, had been finalised.
Any deal could face resistance in Seoul, where the government views SK Hynix's memory business as a matter of national importance.
The talks come as Washington pushes to increase domestic chip production.
They also follow a period of federal support for Intel, including a 10% US government stake taken in August 2025, after which the stock rose more than fourfold.
