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Intel (NASDAQ: INTC) is largely known for its world-class microprocessors. These chips primarily power the bulk of the world’s personal computers and data centers, and those processors are increasingly found in new devices, such as cars. However, the company has signaled for quite a while that it has ambitions to participate aggressively in the market for non-volatile memory technologies, which includes NAND flash and its upcoming 3D XPoint memory. Over the last nine months, Intel’s non-volatile memory business generated $1.76 billion in revenue, down from $1.94 billion in the first nine months of last year. It has also racked up a $453 million operating loss from these efforts, a dramatic reversal of fortune from the modest $215 million in operating profit that the business generated in the first nine months of 2015.

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