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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 secures $10.5 million contract for energy-efficient AI using MRAM technology.

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FAQ

Why Bullish?

Strategic partnerships often lead to increased market validation and future revenue streams. Similar past contracts have positively influenced stock prices in tech sectors.

How important is it?

The contract with a prestigious institution like Purdue signals credibility and innovation potential, driving investor interest.

Why Long Term?

The four-year timeline indicates sustained financial and technological growth, enhancing MRAM's market position.

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Purdue UniversityAMDINTCNVDA
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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