SK Hynix Buys Intel’s NAND Memory Business for $9 billion

Intel and SK Hynix, two of the biggest chip makers in the industry, have announced a $9 billion deal. Intel is selling its NAND memory and storage business to South Korea’s chip-making giant SK Hynix and it will include the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility.


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However, Intel will continue to hold its Optane SSD business but that technology is also jointly developed by Micron and Intel and almost entirely manufactured by Micron. Regardless, the Optane SSDs are not going anywhere.

The deal between Intel and SK Hynix has already been finalized but is awaiting government approval. Both companies expect the deal to be closed by next year. The news comes after Apple’s acquisition of Intel’s Smartphone modem business last year. According to Intel’s  CEO Bob Swan, this transaction allowed Intel to “further prioritize our investments in differentiated technology.”

We will update this space as soon as there is more info on the deal.

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