Intel nears deal to sell NAND memory unit to South Korea's SK Hynix: WSJ

FILE PHOTO: U.S. chipmaker Intel Corp’s logo is seen on their “smart building” in Petah Tikva, near Tel Aviv, Israel December 15, 2019. REUTERS/Amir Cohen/File Photo

(Reuters) – Intel Corp is nearing a deal to sell its NAND memory-chip unit to South Korean chipmaker SK Hynix Inc for nearly $10 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The companies are discussing a deal that could be announced as soon as Monday, the report said. Intel’s shares were up nearly 3%.

NAND flash memory chips are used in portable storage devices like smartphones, tablets and solid-state drives.

Both the companies did not immediately respond to Reuters’ requests for comment.

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