Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
Suncorp Cuts 2026 Premium Growth Forecast as Australia, New Zealand Markets Weaken 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
DOJ Seeks Dismissal of Fraud Charges Against Gautam Adani in U.S. Court 
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat 
TetherMax Rebranding Highlights Official Exchange Partnerships as Foundation of Trust 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Texas Man Charged After Fatal Tesla Full Self-Driving Crash in Katy 
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
SK hynix Inc. will acquire Intel Corp.'s NAND business in a deal worth 10.3 trillion won to boost its chances of becoming the world's second-largest NAND flash chipmaker.
The deal includes Intel's solid-state drive (SSD) business and its factory in Dalian, China but not the US semiconductor giant's Optane memory unit.
SK hynix will pay 8 trillion won by 2021 to first acquire its Chinese production facility and SSD unit.
The remaining 2.3 trillion won would be paid by March 2025 to acquire Intel's remaining assets, including intellectual property related to the manufacture and design of NAND flash wafers and research and development workforce.
According to SK hynix CEO Lee Seok-hee, the company will proactively respond to various needs from customers and optimize our business structure, expanding our innovative portfolio in the NAND flash market segment, which will be comparable with what we achieved in DRAM."
If completed, the deal would be the largest acquisition by a South Korean company, far higher than Samsung Electronics Co.'s deal in 2016 to buy Harman International Industries Inc. for $8 billion.
The deal will propel SK hynix from being the fourth-largest NAND flash maker to the world's second-largest.
Sk hynix had an 11.7 percent revenue share in the second quarter, while sixth-ranked Intel had an 11.5 percent revenue share.
Most of SK hynix's revenue comes from the DRAM business, where it as the second-largest global supplier.
