Intel Invests $500 Million in Micron

Intel Corp. said it has invested $500 million in money-losing Micron Technology Inc. in a bid to assure a supply of high-speed memory chips to complement Intel’s microprocessors, which run most of the world’s personal computers. Santa Clara, Calif.-based Intel received the right to buy 6% of the shares of Boise, Idaho-based Micron, the world’s No. 2 maker of memory chips, for its investment. Micron shares rose 25 cents to $32 on the NYSE. On the Nasdaq, Intel rose $81 to $83.75.