Intel invests $450 million in Micron

Yesterday Intel announced that they will invest $450 million in Micron in exchange for 5.3% of Micron his outstanding common stock. Micron will use this money to increase his DDR2 memory production, and to supports its investments in the 300mm manufacturing tech.

Both companies are also planning to collaborate to design future generations of memory technologies.

"We look forward to working closely with Intel in their support of our efforts to provide advanced memory solutions to our customers" said Steve Appleton, chairman, CEO and president of Micron Technology. "Micron is committed to the support, development and production of DDR2 on leading-edge technology and Intel's investment will further enable these efforts." "The availability of high-performance memory is critical as we continue to develop advanced microprocessors and communications components," said Intel CEO Craig Barrett. "Intel is making this investment in Micron to help enable such high-end memory capabilities as DDR2 to meet the requirements of our future-generation products."