Intel Kills Optane Memory Business Entirely, Pays $559 Million to Exit
Update 08/02/2022 12:30am PT: Intel reached out to clarify that it would bring the next-gen Crow Pass Optane memory DIMMs to market and will use its existing inventory to fulfill orders. This wasn’t clear from Intel’s previous statement because this is technically a future product. We have clarified that point in the below text.
Intel’s Q2 2022 earnings report today was uncharacteristically disappointing, but it also hides a new announcement: Intel is winding down its Optane business entirely. During the earnings call, Intel CEO Pat Gelsinger clarified the vaguely worded announcement in the earnings documents, confirming that Intel will wind down its Optane business. The move incurs a $559 million inventory impairment/write-off. We reached out to Intel for comment on the matter:
“We continue to rationalize our portfolio in support of our IDM 2.0 strategy. This includes evaluating divesting businesses that are either not profitable or not core