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Response to Micron’s Intent to Purchase Intel’s Interest in Joint IMFT Venture

What’s New: Acting on an announcement it made in October, Micron today exercised its right to call Intel’s interest in the parties’ joint venture, IM Flash Technologies, LLC (IM Flash). This is a natural progression from the announcement made in July 2018 that the two companies had agreed to conclude their joint development of 3D XPoint technology after the completion of the second-generation node.

Intel’s Response: As Intel stated in October, when Micron announced its intention to do this, there is no near-term change to Intel’s plans in the coming quarters. The close of the call is at Intel’s discretion for up to one year as of today. This was expected and has been part of Intel’s planning for some time. Intel has manufacturing options available and has been shipping a broad portfolio of Intel® Optane™ technology products for more than a year. Intel will continue to expand its product line and lead the industry with this exciting new technology.

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