Everspin Awarded $10.5M Contract to Provide MRAM IP and Foundry Services for Purdue University’s ME Commons In-Memory Compute Project
Everspin Technologies (NASDAQ: MRAM) has secured a strategic contract worth up to $10.5 million over four years to collaborate with Purdue University's consortium on the CHEETA (CMOS+MRAM Hardware for Energy Efficient AI) program. The initial phase is valued at approximately $4 million.
The project aims to explore MTJ-based In-Memory Compute (IMC) macros for next-generation neural accelerators, utilizing Everspin's AgILYST MRAM technology. The implementation is expected to significantly reduce memory transaction power and latency compared to traditional methods.
Everspin will provide MRAM IP, manufacturing services, and design support through their Chandler, Arizona facility, which has experience in both commercial MRAM and radiation-hardened solutions for the Department of Defense.
Everspin Technologies (NASDAQ: MRAM) ha ottenuto un contratto strategico del valore di fino a 10,5 milioni di dollari per quattro anni, per collaborare con il consorzio dell'Università di Purdue nel programma CHEETA (CMOS+MRAM Hardware per AI a Risparmio Energetico). La fase iniziale ha un valore di circa 4 milioni di dollari.
Il progetto mira a esplorare macro In-Memory Compute (IMC) basate su MTJ per acceleratori neurali di nuova generazione, utilizzando la tecnologia MRAM AgILYST di Everspin. Si prevede che l'implementazione riduca significativamente il consumo energetico delle transazioni di memoria e la latenza rispetto ai metodi tradizionali.
Everspin fornirà IP MRAM, servizi di produzione e supporto alla progettazione attraverso la sua struttura di Chandler, in Arizona, che ha esperienza sia in soluzioni MRAM commerciali che in soluzioni resistenti alle radiazioni per il Dipartimento della Difesa.
Everspin Technologies (NASDAQ: MRAM) ha asegurado un contrato estratégico por un valor de hasta 10,5 millones de dólares durante cuatro años para colaborar con el consorcio de la Universidad de Purdue en el programa CHEETA (Hardware CMOS+MRAM para AI Eficiente en Energía). La fase inicial está valorada en aproximadamente 4 millones de dólares.
El proyecto tiene como objetivo explorar macros de Computación en Memoria (IMC) basadas en MTJ para aceleradores neuronales de próxima generación, utilizando la tecnología MRAM AgILYST de Everspin. Se espera que la implementación reduzca significativamente la potencia y la latencia de las transacciones de memoria en comparación con los métodos tradicionales.
Everspin proporcionará IP MRAM, servicios de fabricación y soporte de diseño a través de su instalación en Chandler, Arizona, que tiene experiencia tanto en soluciones MRAM comerciales como en soluciones resistentes a la radiación para el Departamento de Defensa.
Everspin Technologies (NASDAQ: MRAM)는 퍼듀 대학교 컨소시엄과 CHEETA (에너지 효율적인 AI를 위한 CMOS+MRAM 하드웨어) 프로그램에 협력하기 위해 4년 동안 최대 1,050만 달러의 가치가 있는 전략적 계약을 체결했습니다. 초기 단계는 약 400만 달러로 평가됩니다.
이 프로젝트는 Everspin의 AgILYST MRAM 기술을 활용하여 차세대 신경 가속기를 위한 MTJ 기반의 인메모리 컴퓨팅(IMC) 매크로를 탐색하는 것을 목표로 하고 있습니다. 구현은 전통적인 방법에 비해 메모리 거래 전력과 지연 시간을 상당히 줄일 것으로 예상됩니다.
Everspin은 애리조나 챈들러에 위치한 시설을 통해 MRAM IP, 제조 서비스 및 설계 지원을 제공할 예정이며, 이 시설은 상업용 MRAM 및 국방부를 위한 방사선 저항 솔루션 모두에 대한 경험이 있습니다.
Everspin Technologies (NASDAQ: MRAM) a sécurisé un contrat stratégique d'une valeur allant jusqu'à 10,5 millions de dollars sur quatre ans pour collaborer avec le consortium de l'Université de Purdue dans le cadre du programme CHEETA (Matériel CMOS+MRAM pour une IA Énergétiquement Efficace). La phase initiale est évaluée à environ 4 millions de dollars.
Le projet vise à explorer des macros de Calcul en Mémoire (IMC) basées sur MTJ pour des accélérateurs neuronaux de nouvelle génération, en utilisant la technologie MRAM AgILYST d'Everspin. On s'attend à ce que la mise en œuvre réduise considérablement la puissance et la latence des transactions de mémoire par rapport aux méthodes traditionnelles.
Everspin fournira des IP MRAM, des services de fabrication et un soutien à la conception via son installation à Chandler, en Arizona, qui a de l'expérience tant dans les solutions MRAM commerciales que dans les solutions résistantes aux radiations pour le Département de la Défense.
Everspin Technologies (NASDAQ: MRAM) hat einen strategischen Vertrag im Wert von bis zu 10,5 Millionen Dollar über vier Jahre gesichert, um mit dem Konsortium der Purdue University am CHEETA-Programm (CMOS+MRAM Hardware für energieeffiziente KI) zusammenzuarbeiten. Die Anfangsphase wird auf etwa 4 Millionen Dollar geschätzt.
Das Projekt zielt darauf ab, MTJ-basierte In-Memory-Compute (IMC) Makros für neueste neuronale Beschleuniger zu erkunden, wobei die AgILYST MRAM-Technologie von Everspin genutzt wird. Die Implementierung soll den Energieverbrauch und die Latenz von Speichertransaktionen im Vergleich zu herkömmlichen Methoden erheblich reduzieren.
Everspin wird MRAM-IP, Fertigungsdienstleistungen und Entwurfsunterstützung über ihre Einrichtung in Chandler, Arizona, bereitstellen, die Erfahrung sowohl in kommerziellen MRAM- als auch in strahlungsharten Lösungen für das Verteidigungsministerium hat.
- Secured major $10.5M contract over 4 years
- Initial phase valued at $4M
- Strategic partnership with prestigious university consortium
- Technology could significantly reduce power consumption and latency
- Contract value spread over 4 years
- Project still in research phase with uncertain commercial outcomes
Insights
Everspin Technologies has secured a $10.5 million contract over four years to provide MRAM IP and foundry services for Purdue University's ME Commons project, with the current phase valued at approximately $4 million. This represents a significant deal for Everspin, equivalent to roughly 8.6% of the company's current market capitalization of $121.8 million.
The contract's financial impact should be evaluated in context - while substantial relative to Everspin's size, the four-year timeframe means the annual revenue contribution will be more modest. Nevertheless, this agreement provides valuable revenue visibility and potentially improves the company's cash flow stability.
Beyond the direct financial benefit, this contract demonstrates commercial validation of Everspin's AgILYST MRAM technology in advanced computing applications. The company is leveraging its existing Chandler, Arizona manufacturing facility, which should allow for efficient execution without requiring significant new capital investments.
The strategic value may exceed the immediate financial impact. By positioning MRAM technology for in-memory computing applications focused on AI acceleration, Everspin is expanding beyond traditional memory markets into higher-growth computing segments. The partnership with a respected research institution also enhances Everspin's technological credibility in emerging applications.
This contract represents a significant technological pivot for Everspin's MRAM technology. The CHEETA (CMOS+MRAM Hardware for Energy Efficient AI) program aims to integrate Everspin's Magnetoresistive Random Access Memory into in-memory compute (IMC) architectures specifically designed for neural accelerators.
The technical advantages highlighted in the announcement focus on power efficiency and latency reduction - two critical constraints in modern AI systems. Traditional computing architectures suffer from the "memory wall" problem where data transfer between processing units and memory creates bottlenecks. IMC architectures help overcome this by performing computations directly where data is stored.
Everspin's magnetic tunnel junctions (MTJs) are particularly well-suited for this application because they offer non-volatility (data retention without power), high endurance, and compatibility with CMOS manufacturing processes. The company's experience producing radiation-hardened solutions for defense applications also suggests reliability under demanding conditions.
If successful, this project could position Everspin's MRAM technology as a foundational component in specialized AI hardware, potentially opening new market opportunities beyond traditional storage applications. The experimental demonstration of energy-efficient IMC functionality would provide valuable proof-of-concept for commercial applications in data centers and edge computing devices where power consumption is a primary constraint.
Everspin’s AgILYST MRAM IP and manufacturing to support Purdue University’s Applied Research Institute ME Commons grant initiative
"MRAM has evolved far beyond its initial commercialization as a memory technology," said Sanjeev Aggarwal, President and CEO of Everspin Technologies. "Nearly two decades after Everspin first brought its MRAM to market, it has evolved its technology into a versatile, energy-efficient solution for computing and memory bandwidth challenges. Everspin continues to advance MRAM’s capabilities through our manufacturing facility in
The program goal is to conduct a comprehensive cross-layer exploration of MTJ-based In-Memory Compute (IMC) macros for next generation neural accelerators. Everspin’s MTJs will drastically reduce memory transaction power, by orders of magnitude, while also reducing latency compared to traditional methods. One of the project outputs is to experimentally demonstrate robust and energy-efficient IMC functionality. This IMC approach could redefine traditional compute and memory architecture, enabling more efficient data processing. Everspin’s AgILYST MRAM technology supports AI acceleration and next-generation memory architectures by offering the versatility needed for innovative solutions.
About Everspin Technologies
Everspin Technologies, Inc., is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest-performance, non-volatile memory for Industrial IoT, Data Centers, and other mission-critical applications where data persistence is paramount. Headquartered in
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Source: Everspin Technologies, Inc.
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