With the ingenuity of crowdfunding, considered to be one of the last decade’s greatest “success stories,” and such desperate times calling for bold new ways to finance a wide variety of COVID-19 relief efforts, we are now seeing an excellent opportunity for banks and other financial institutions to partner with crowdfunding platforms and campaigns, bolstering their efforts and impact.
Better yet, bridge the gaps between financial institutions and crowdfunding platforms and campaigns so that smaller businesses get the opportunities they need to survive through these difficult times.
While originally born out of either philanthropy or early-adopting innovation, depending on the situation, person or product, crowdfunding has become an increasingly reliable means of providing COVID-19 economic relief when other organizations, including the government and some banks, cannot provide sufficient assistance.
Intel is selling its SSD business to SK Hynix in a deal worth $9 billion, which will see the chipmaker almost completely exit the flash memory and storage business — except for Intel’s high-end Optane memory technology, which it’ll still be hanging onto.
The deal includes Intel’s former NAND SSD, component, and wafer businesses, along with the company’s NAND factory in Dalian, China.
It’ll be some time until the deal actually takes place: the two companies are starting to get governmental approval for the purchase, which they don’t expect to get until “late 2021.” Until that happens, Intel will still continue to make NAND products at the Dalian factory and keep all its IP rights.
Intel also recently sold its 5G modem business to Apple last year in a deal worth $1 billion.