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Everspin Awarded $10.5M Contract to Provide MRAM IP and Foundry Services for Purdue University's ME Commons In-Memory Compute Project

1. Everspin receives $10.5 million contract to support AI memory technology with Purdue. 2. This strategic partnership may enhance MRAM's market position and demand.

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FAQ

Why Bullish?

The contract enhances MRAM's positioning in the AI sector, similar to past partnerships increasing demand.

How important is it?

The funding and strategic collaboration can significantly influence future revenue growth and technology adoption for MRAM.

Why Long Term?

The four-year contract indicates sustained growth potential for MRAM within the AI industry.

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CHANDLER, Ariz.--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the world's leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, announced a strategic award to work with a consortium led by Purdue University to utilize Everspin MRAM as the underpinning in a program called CHEETA (CMOS+MRAM Hardware for Energy Efficient AI). The contract allows for phases totaling up to $10.5 million for Everspin Technologies over four year.

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