Intel makes investment in Micron Technology

Intel Corp.'s strategic investment program, Intel Capital, has invested $450 million in Micron Technology Inc., in exchange for rights to common stock representing about 5.3 percent of Micron's outstanding common stock. Micron, a provider of advanced semiconductor solutions, will use the proceeds primarily to support its investments in 300mm manufacturing technology and increase its DDR2 memory production.

"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."

The companies also announced plans to collaborate on the design for future generations of memory technologies.