Intel completed the second closing of its NAND sale to SK hynix on Mar 27, 2025, receiving about $1.9 billion net of adjustments

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Intel and SK hynix held the second closing of their NAND memory deal on Mar 27, 2025. As the filing describes the agreement, the second closing covered Intel's NAND memory technology and manufacturing business. The consideration Intel received at that closing was approximately $1.9 billion, net of certain adjustments. Intel (Nasdaq: INTC) reported it in a Form 8-K filed on Mar 28, 2025, the current report a US-listed company files when an event matters to its shareholders, under item 2.01, the item for the completion of an acquisition or disposition of assets.1^,2^,3^,4^,5^,6^,7

Intel and SK hynix announced the agreement on Oct 19, 2020. It provided for SK hynix to acquire, at a first closing, Intel's NAND memory fabrication facility in Dalian, China, with certain related equipment and tangible assets, and Intel's NAND solid-state drive business. SK hynix's purchase was subject to the satisfaction or waiver of certain conditions. The first closing occurred on Dec 29, 2021.8^,9^,10^,11

In connection with the second closing, the NAND wafer manufacturing and sale agreement entered into at the first closing had terminated, the filing said. That agreement was among Intel, SK hynix and certain affiliated entities, and under it Intel manufactured NAND wafers at SK hynix's Dalian memory manufacturing facility.12

Our records hold the text of this one 8-K, with items 2.01 and 9.01, and not the filing's other exhibits, so the agreement of 2020 and the first closing are told here as this filing recounts them. In the 8-K text we hold, the adjustments behind the $1.9 billion are not itemised.13^,14^,8^,3