What just happened? Intel and SK hynix have finalized an $8.85 billion deal that transfers Intel's NAND flash memory business to the South Korean semiconductor giant, marking the completion of a multi-year transaction that began in 2020. The final phase of the acquisition concluded with SK hynix making a $1.9 billion payment to Intel. This final installment secured critical assets – including intellectual property, research and development resources, and key personnel – enabling SK hynix to fully integrate the NAND business and Solidigm, its subsidiary formed from Intel's SSD operations. The acquisition unfolded in two phases over several years. The…