In October, SK hynix said it was buying Intel’s NAND component wafer business and the company’s Dalian NAND memory manufacturing facility in China for $9 billion. Intel will retain its Optane memory business, the Korean chip manufacturer said.
U.S. President Joe Biden is urging chip producers including Samsung Electronics to ramp up production in the U.S., complicating Samsung’s investment plans.
SK hynix wants to open research and development units in the United States or Europe and is leaving the door open to more mergers and acquisitions.
Intel’s foray into contract chip manufacturing, or foundry, will likely pose challenges to market leaders Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung Electronics, heating up competition in the booming chip fabrication business.
SK hynix is buying Intel’s NAND memory and storage business for $9 billion, one of the largest acquisitions in Korean corporate history.