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- Intel (NASDAQ:INTC) and Japanese tech conglomerate SoftBank (OTCPK:SFTBY) are set to form Saimemory, a new artificial intelligence-focused memory company, Nikkei Asia reported.
- The new company hopes to develop stacked dynamic random access memory chips that will be used for AI and require roughly 50% of the energy that current high-bandwidth memory chips use, the news outlet added. The timeline to achieve this milestone is in the next two years, the news outlet added.
- Intel and SoftBank did not immediately respond to a request for comment.
- Shares of Micron (MU), which makes high-bandwidth memory chips used for AI, fell 0.7% in premarket trading. SK hynix and Samsung (OTCPK:SSNLF) are the other major memory chip providers.
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