Intel reportedly close to selling NAND memory business

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Intel reportedly close to selling NAND memory business

Intel is reportedly close to reaching a deal to sell its NAND memory business for roughly US$10 billion to South Korean chipmaker SK Hynix, and it could be announced as soon as Monday.

The Wall Street Journal reported that the announcement of a deal could be imminent, citing sources familiar with the proceedings, though it noted that things could easily unravel. The newspaper said it could not discern which products or parts of the NAND memory business would be part of the deal.

Intel declined to comment. CRN USA has reached out to SK Hynix for comment.

In the most recent quarter, Intel reported that its Nonvolatile Solutions Group, which includes the company’s SSD products and Intel Optane memory modules, grew 76 percent to US$1.7 billion.

Intel stock traded up nearly 1.74 percent on Monday, rising to US$55.10.

This article originally appeared at crn.com

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