Intel, Micron In Flash Chip Venture

Intel and Boise-based Micron Technology said today that the two companies have formed a new company to make flash memory chips. The new firm, IM Flash Technologies LLC, will be 51 percent owned by Micron, and include investments of $1.2B from both Intel and Micron. The companies said that Apple Computer has signed a long term agreemen to purchase flash memory from the new company for use in its popular iPod digital music players. Supply of the chips is expected to come from plants in Idaho, Utah, and Virginia by early next year.