Intel closes on first phase to sell SSD business to SK Hynix

Intel closes on first phase to sell SSD business to SK Hynix

Why it matters: Intel has actually finished the primary step of its deal to offer its solid-state drive company to SK Hynix. The offer, if you remember, was revealed in October2020 At the time, Intel accepted reject its NAND SSD company, its NAND part and wafer company, and its Dalian NAND memory production center in China for an overall of $9 billion.

This very first stage will see SK Hynix turn over $7 billion, with Intel maintaining particular IP associated to the manufacture and style of NAND flash wafers. The chipmaker will have the ability to continue to utilize the Dalian center to make wafers up until the last closing, which is anticipated to occur no faster than March 2025.

Upon last closing, SK Hynix will take control of the staying SSD possessions from Intel, consisting of R&D workers, for an extra $2 billion.

SK Hynix is rolling the properties into a brand-new subsidiary called Solidigm, a name stated to show a brand-new paradigm in solid-state storage. The attire will be led by Robert B. Crooke, who formerly worked as SVP and GM of Intel’s Non-Volatile Memory Solutions Group, and will be headquartered in San Jose.

Intel stated it will utilize earnings from the sale to “provide management items and advance its long-lasting development concerns.”

With the sale, it would appear as though Intel’s try out storage tech is formally over. Previously this year, Micron halted production of 3D XPoint, a memory innovation collectively revealed by Micron and Intel in2015 Over the summer season, Micron consented to offer its 3D XPoint fab to Texas Instruments for $900 million

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