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SK Hynix spends $9Billion in Intel NAND memory purchase

Intel plans to use the money for "long-term growth priorities."

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Buying all of Intels NAND memory and storage business, SSD production, NAND, and wafer business, including the Dalian manufacturing plant in China, SK Hynix has had to write a check for no less than $9 Billion.

Intel will, however, still use and continue to develop its Optane technology and products.

A press release states: "SK hynix and Intel will endeavor to obtain required governmental approvals expected in late 2021. Following receipt of these approvals, SK hynix will acquire from Intel the NAND SSD business (including NAND SSD-associated IP and employees), as well as the Dalian facility, with the first payment of US $7 billion. SK hynix will acquire from Intel the remaining assets, including IP related to the manufacture and design of NAND flash wafers, R&D employees, and the Dalian fab workforce, upon a final closing, expected to occur in March 2025 with the remaining payment of US $2 billion. Per the agreement, Intel will continue to manufacture NAND wafers at the Dalian Memory Manufacturing Facility and retain all IP related to the manufacture and design of NAND flash wafers until the final closing."

The press release also mentions that Intel will use the money for "long-term growth priorities" such as AI, 5G, and autonomous projects.

SK Hynix spends $9Billion in Intel NAND memory purchase


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