Intel: Buy The SK hynix Optionality, But Foundry Still Has To Prove It

Intel Corporation remains a Buy as Q2 results and SK hynix partnership talks strengthen the turnaround thesis. Potential SKHY collaboration could drive external demand for Intel's U.S. manufacturing, boosting foundry utilization and AI supply chain relevance. Q2 revenue rebounded to $16.1B (+25% y/y), with Data Center and AI up 59% and Foundry up 31%, supporting operational improvement.