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Illustration: Lazaro Gamio/Axios

Intel agreed to sell its NAND memory chip unit, including a China production factory, to South Korea's SK Hynix for $9 billion in cash.

Why it matters: This would make SK Hynix the world's second-largest NAND chipmaker, behind only Samsung. It also gets Intel mostly out of the memory chip market, which is where it got its start.

  • Financials: The business generated around $2.8 billion in revenue for the first half of 2020, whereas Intel's entire memory chip revenue was around $3 billion.

The bottom line: "The move marks the latest effort by the U.S. chip giant to divest its non-core businesses, move away from the volatile commodity NAND chip industry and focus on its remaining Optane memory business, which is smaller but more lucrative because it taps more advanced technology." per Reuters.

Go deeper

Ina Fried, author of Login
Jan 13, 2021 - Technology

Intel names former exec Pat Gelsinger as new CEO

Gelsinger. Photo: Intel

Intel said Wednesday that VMware CEO Pat Gelsinger will return to the chipmaker as CEO, with current chief Bob Swan stepping down as of Feb. 15.

Why it matters: Intel faces a host of challenges from manufacturing issues to competition from rival AMD to Apple's move to use homegrown chips in the Mac.

Ina Fried, author of Login
Jan 13, 2021 - Technology

Qualcomm buying server chip startup Nuvia for $1.4 billion

Image: Qualcomm

Qualcomm said Wednesday it will pay $1.4 billion to buy Nuvia, a chip startup founded by former Apple employees.

Why it matters: The move gives Qualcomm fresh ideas for chip designs as the company faces intense competition from Intel, AMD and others.

Dave Lawler, author of World
1 hour ago - World

Americans increasingly see China as an enemy

One in three Americans, and a majority of Republicans, now view China as an enemy of the United States, according to a new survey from Pew Research Center.

By the numbers: Just 9% of Americans consider China a "partner," while 55% see Beijing as a "competitor" and 34% as an "enemy."

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