SK Hynix today announced that it is acquiring Intel’s NAND memory and storage business. A household name within the DRAM industry, the Korean semiconductor giant is also a very established NAND flash memory and CMOS sensor manufacturer.

According to the announcement, SK Hynix will be paying USD 9 billion (~RM 37.29 billion) to Intel as part of the deal. In exchange, the company will receive Intel’s NAND solid state drive business as well as its NAND component and wafer business.

Additionally, Intel’s NAND memory manufacturing facility in Dalian, China will be part of the acquisition as well. While the announcement may have taken place today, this deal is expected to be fully completed only in March 2025 and until then, Intel will continue its work within the Dalian facility and related IPs.

Interesting enough, Intel’s Optane business is not part of this acquisition although it does make sense considering that Optane was originally conceived through a partnership between Intel and Micron. So, in general, consumers can expect to see Optane products being made available in the market for the time being.