⁍ Intel has agreed to sell its NAND memory chip business to SK Hynix for $9 billion in an all-cash deal.
⁍ The move marks the latest effort by the U.S. chip giant to divest its non-core businesses.
– Intel is selling its memory business to South Korea’s SK Hynix for $9 billion in what is expected to be the biggest deal in the company’s history, the Wall Street Journal reports. Intel will keep its Optane memory business, which uses more advanced technology, according to Reuters. Intel CEO Bob Swan says the company plans to use the proceeds from the sale to invest in artificial intelligence and 5G networking.
Source: https://www.reuters.com/article/us-intel-divestiture-sk-hynix/south-koreas-sk-hynix-to-buy-intels-nand-business-for-9-billion-idUSKBN2742IY