Intel Completes Sale of NAND Memory Assets to SK hynix

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for approximately $1.9 billion, net of certain adjustments. This follows the first closing on December 29, 2021, which involved the sale of Intel's NAND memory fabrication facility in Dalian, China, and related equipment and tangible assets, along with Intel's NAND solid-state drive business.

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About Intel Corporation

Intel Corporation is a multinational corporation and technology company known for its semiconductor products. As a leader in the global semiconductor industry, Intel primarily focuses on designing and manufacturing products like microprocessors, integrated graphics, and other computing components. These semiconductors are vital for the functioning of computers, laptops, and various consumer electronic devices. Intel's products play a crucial role in fields such as data centers, computing solutions, Internet of Things (IoT), and more. The company’s innovations in semiconductor design have significant implications for technology advancement, impacting industries ranging from personal computing to automotive technology. Founded in 1968 and headquartered in Santa Clara, California, Intel Corporation has been a pivotal player in pioneering advances in technology infrastructure worldwide, continuously pushing the boundaries of processing power and efficiency to support consumer electronics and enterprise technology needs.