Memory-chip maker Micron Technology has received a $450 million investment from chip giant Intel, Micron said Wednesday.

The deal is designed to bring Micron's development plans into closer alignment with Intel technology, said Chuck Mulloy, an Intel spokesman. At the same time, Mulloy said, the agreement sets the stage for Intel to make future purchases of Micron's MDDR2 memory chips and it supports Micron's development of 300mm wafer processing.

Read more: CNet News.