INTC rose 0.8% in overnight trading as Intel looked for a partner to help run its Ohio fab project. SK Hynix was among the companies being considered, while the campus remains slated to go live in 2030.
That move comes before Intel’s second-quarter results after the closing bell on Thursday. Intel stock has already climbed 178% year to date, and the latest partner talk adds a new layer to how the Ohio buildout may be executed.
Ohio One and $28 billion
Intel announced Ohio One in January 2022 and said it would invest $28 billion initially to build two leading-edge chip fabrication plants in New Albany, near Columbus. The nearly 1,000-acre site broke ground in September 2022, setting a long buildout that now runs through the first fab’s expected completion in 2030 and start of operations between 2030 and 2031.
Maria Bartiromo Lifts Intc Stock Rally 494% Since August added another layer to the recent trading tone, even as the Ohio project itself remains a multi-year manufacturing commitment. For investors, the useful detail is not just the timing; it is that Intel appears to be testing an operating structure rather than moving straight to a sale.
SK Hynix Denies Talks
Semfor said on Wednesday that Intel was considering SK Hynix among others, but SK Hynix denied involvement in any such talks. That split leaves the market with two different readouts: Intel is exploring outside help for the project, yet one named candidate says it is not part of the discussion.
Thirteen out of 47 analysts rate Intel Buy or higher, 31 out of 47 rate it Hold, and three out of 47 rate it Sell or lower. Intel’s average price target is $108.63, which implies a 6% rise from the last close, while Stocktwits sentiment for INTC slipped to neutral from bullish early Thursday and 24-hour message volume rose 11%.
The question now is which company, if any, becomes Intel’s operating partner for Ohio One before the project reaches 2030. Until that structure is settled, the key issue for shareholders is whether the campus is being paired with outside operating support or headed toward a different kind of transaction.
