Intel Sells NAND Memory Business for $9 Billion; Micron's Market Cap Surpasses Intel's
In October 2020, Intel agreed to sell its NAND memory and storage business to 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. As of now, Micron's market value is approximately $1.05 trillion compared to Intel’s around $464 billion. The transaction occurred in two phases: SK Hynix paid $7 billion at the first closing in late 2021 and received an additional $1.9 billion by March 2025 for NAND technology, IP, and personnel. The funds were intended to support Intel's long-term growth initiatives such as AI and 5G networking. The memory market has experienced significant changes due to the rise of artificial intelligence (AI), which increased demand for data center memory. SK Hynix reported record revenue in Q2 2026, driven by high-performance products for AI servers.
Topics: Intel Micron valuation NAND memory business sale SK Hynix acquisition