Investing.com — stock surged 5.0% in pre-open trading today after reports emerged that the chipmaker is in exploratory talks with about producing memory chips on U.S. soil for the first time, with potential structures including leasing capacity at Intel’s planned Ohio facility or forming a joint venture alongside major cloud computing firms.
Under discussion are options including SK Hynix leasing part of Intel’s planned Ohio chipmaking facility, or a joint venture between the two companies and major cloud providers looking to secure memory supplies, Reuters reported.
“While the company is reviewing various measures, including establishing additional production bases, to strengthen the competitiveness of its memory business, no matters have been determined at this stage,” an SK Hynix spokesperson told Investing.com.
Adding further momentum, Tigress Financial raised its price target on the shares to $145 from $118, reiterating a Buy rating in a research note published the prior evening and citing a new Terafab partnership as a key catalyst for the upgrade.
The move signals growing Wall Street conviction that Intel’s ongoing turnaround — anchored in AI-driven data center demand and its expanding foundry network — is gaining tangible commercial traction.
The broader semiconductor sector provided a supportive tailwind, with AI chip names including Nvidia, AMD, and Broadcom all rebounding in pre-market after a bruising prior session in which warnings from Anthropic’s Dario Amodei and OpenAI’s Sam Altman about the pace of AI development rattled chip stocks.
The Nasdaq was up 0.33% and the S&P 500 was up 0.17%, reflecting a modestly constructive macro backdrop heading into the open.
Taken together, a timely analyst upgrade with a notably higher price target, a strategically significant potential manufacturing partnership with SK Hynix, an Altera IPO filing that crystallizes asset value, and a sector-wide recovery from oversold conditions all converged to push Intel sharply higher in pre-market trading today.
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