Everspin gets $10.5M deal for MRAM IP and services for Purdue CHEETA project

Everspin Technologies (MRAM) 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 or CMOS+MRAM Hardware for Energy Efficient AI. The contract allows for phases totaling up to $10.5M for Everspin Technologies over four years. The current phase with Everspin Technologies is valued at approximately $4M. “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 Chandler, Arizona, which has a long history of supporting both commercial MRAM and strategic radiation-hardened solutions for the Department of Defense DoD . This expertise uniquely positions us to provide MRAM IP, manufacturing services, and design support for next-generation computing architectures.”