Intel Corp. completes its first closing in the sale of its NAND and SSD business to SK hynix. SANTA CLARA, Calif.–(BUSINESS WIRE)–Intel Corporation today announced it has completed the first closing of the sale of its NAND and SSD business, selling its SSD business (including the transfer of certain NAND SSD-associated intellectual properties (IP) and employees) and the Dalian NAND memory manufacturing facility in China to Seoul-based SK hynix. In exchange, SK hynix will pay Intel US$7 billion in consideration. The deal was announced Oct. 19, 2020. Intel will continue to manufacture NAND wafers at SK hynix’s Dalian memory manufacturing…