South Korea's SK Hynix to buy Intel's NAND business for $9b

South Korea's SK Hynix to buy Intel's NAND business for $9b

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

Intel Corp has agreed to sell its NAND memory chip business to SK Hynix Inc for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings.