Intel Sells NAND Memory Business to SK Hynix for $9 Billion
In October 2020, Intel agreed to sell its NAND memory and storage business to South Korean semiconductor company SK Hynix for $9 billion. The deal included the solid-state drive (SSD) business, NAND components and wafers, as well as a factory in Dalian, China. The transaction occurred in two phases: an initial payment of $7 billion at year-end 2021 followed by a final transfer of assets worth approximately $1.9 billion on March 27, 2025. The sale allowed Intel to focus its capital and resources on long-term growth areas such as artificial intelligence (AI), 5G networking, and edge computing. However, the company has struggled with profitability in these new ventures, particularly within its contract chipmaking arm, Intel Foundry, which reported a $2.1 billion operating loss despite revenue growth. Meanwhile, SK Hynix's performance has surged due to increased demand for memory chips driven by AI and data centers. Micron, the largest U.S.-based memory company, now holds a market valuation of around $1.05 trillion compared to Intel’s approximately $464 billion.
Topics: Intel NAND memory business sale SK Hynix