This article first appeared on GuruFocus.
Intel (NASDAQ:INTC) climbed 9% on Thursday as reports of potential memory-chip manufacturing at its Ohio site continued to draw investor attention.
The discussions involve SK Hynix, which is considering ways to produce memory chips in the United States. One possibility would involve using part of Intel's planned Ohio manufacturing complex, while another could involve a broader venture with Intel and cloud companies.
For Intel, such an arrangement could provide another potential use for capacity at the Ohio project, which has faced delays. Reuters reported that the company has been under financial pressure as it works to expand its manufacturing operations.
Intel has not confirmed any agreement and declined to comment on speculation, while saying it remains committed to preparing the Ohio site. SK Hynix also said no specific arrangement had been finalized.
Intel shares gained 4% on Wednesday following the initial report and were trading higher again Thursday. The talks come as demand for memory chips rises alongside investment in artificial intelligence and data centers.