Intel sells its NAND flash memory business to SK Hynix for $ 9 billion
SK Hynix buys Intel’s NAND flash memory division and becomes the world’s second-largest memory maker. Check out!
One of the world’s largest chip makers, SK Hynix, today announced the purchase of Intel’s flash memory business for $ 9 billion. With the sale of its NAND memory division, Intel says it will use the amount to invest in the areas of Artificial Intelligence, 5G, and cutting edge computing.
According to Intel CEO Bob Swan:
“For Intel, this transaction will allow us to further prioritize our investments in differentiated technology, where we can play a greater role in the success of our customers and offer attractive returns to our shareholders.”
According to the Wall Street Journal, earlier this week Intel and SK Hynix were reaching an agreement. As a result of the sale, SK Hynix will become one of the largest NAND memory manufacturers in the world, second only to Samsung Electronics.
The sale negotiation of the NAND memory chip division is the latest from Intel and aims to considerably increase investment in technologies related to artificial intelligence, 5G, and cutting edge computing. However, even with this sale, Intel will maintain its Optane business, which manufactures SSD memory modules.
According to the Wall Street Hournal, Intel’s memory factory in Dalian is the only one in China. That is, for Intel to sell it to SK Hyni, there will be a drastic reduction in its presence there, as the current US government imposes commercial restrictions on Chinese technology.
According to SK Hynix CEO Seok-Hee Lee, the purchase of Intel’s memory division will:
“Optimize our business structure by expanding our innovative portfolio in the NAND flash market segment, which will be comparable to what we achieved in DRAM.”
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