Intel Names SK Hynix Veteran to Lead Foundry as Shares Rally 11%
INTC•Intel named former SK Hynix CEO Seok-Hee Lee executive vice president of Intel Foundry to oversee advanced packaging and back-end manufacturing on Intel 18A and 14A process ramps. Shares surged 11% after a U.S. chip-design partnership with Apple and government support for a 10% stake, lifting 2026 gains to 263%.
1. Leadership Appointment
Intel has appointed Seok-Hee Lee, former CEO of SK Hynix, as executive vice president of Intel Foundry. Lee will report directly to CEO Lip-Bu Tan and focus on advanced packaging, system integration and back-end manufacturing to support Intel’s 18A and 14A process ramp-up.
2. U.S. Chip Partnership
Reports indicate Intel secured a U.S. chip-design partnership with Apple that includes government backing for a 10% equity stake. The deal underscores Intel’s strategy to expand its foundry customer base and diversify revenue through high-value system integration projects.
3. Stock Rally and Outlook
Following the partnership news, Intel shares jumped 11% in a single session, contributing to a 263% year-to-date gain. Investors are now weighing whether execution on new leadership and customer wins can sustain momentum or if broader market pressures could trigger a second-half pullback.
