Intel sells NAND memory chip business to SK Hynix for $9 billion

Hong Kong US chipmaker Intel is selling part of its memory chip business to SK Hynix for $9 billion in a deal that would make the South Korean company the world's second biggest flash memory chipmaker.

SK Hynix will acquire Intel's NAND memory chip business, including associated manufacturing and design patents, as well as the US firm's factory in Dalian, China, the companies said in a statement on Tuesday. Intel's NAND flash memory products are used in devices such as smartphones, tablets and hard drives. The US company will keep Optane, its advanced memory chip technology business. The deal is expected to close in March 2025.

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