Intel to sell NAND memory chip unit to SK Hynix for $9 billion

Intel to sell NAND memory chip unit to SK Hynix for $9 billion

Intel to sell NAND memory chip unit to SK Hynix for $9 billion

5 hours ago

A woman walks past an office of SK hynix in Seongnam, South Korea, on Tuesday. Associated Press

Intel Corporation has agreed to sell its NAND memory chip business to SK Hynix for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings.

The move marks the latest effort by Intel, the US chip giant, to divest its non-core businesses, move away from the volatile commodity NAND chip industry and focus on its remaining Optane memory business, which is smaller but more lucrative because it taps more advanced technology.

It is the biggest acquisition to date for SK Hynix and follows its $3.7 billion investment in Japanese rival Kioxia