Similar Stories to Intel Agrees To Sell Its Nand Business To Sk Hynix For $9 Billion on Bing News

SK Hynix, one of the world’s largest chip makers, announced today it will pay $9 billion for Intel’s flash memory business. Intel said it will use proceeds from the deal to focus on artificial intelligence, 5G and edge computing. “For Intel, this transaction will allow us to to further prioritize our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders,” said Intel chief executive officer Bob Swan in the announcement. The Wall Street Journal first reported earlier this week that the two companies were nearing an agreement, which will turn SK Hynix into one of the world’s largest NAND memory makers, second only to Samsung Electronics. The deal with SK Hynix is the latest one Intel has made so it can double down on developing technology for 5G network infrastructure.

BING NEWS:
  • (3rd LD) SK hynix returns to profit in Q1 on solid demand for AI chips
    SK hynix Inc. said Thursday it swung to a profit in the first quarter of this year on the back of rising global demand for premium memory chip products used for artificial intelligence (AI) computing.
    04/24/2024 - 6:19 pm | View Link
  • AI Memory Boom Propels SK Hynix's Fastest Sales Growth Since 2010
    SK Hynix Inc. said it expects a full recovery in the memory market, led by surging AI-related demand, and lifted its capital spending plans.
    04/24/2024 - 3:30 pm | View Link
  • Nvidia supplier SK Hynix expects full chip recovery after strong earnings on AI boom
    South Korea's SK Hynix on Thursday posted its highest profit in nearly two years, as explosive sales of its advanced DRAM chips such as high bandwidth memory (HBM) used in generative AI chipsets drove ...
    04/24/2024 - 3:11 pm | View Link
  • SK Hynix announces 1Q24 financial results
    Seoul, April 25, 2024 – SK hynix Inc. (or "the company", www.skhynix.com) announced today that it recorded 12.43 trillion won in revenues, 2.886 trillion won in operating profit (with an operating ...
    04/24/2024 - 2:37 pm | View Link
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