So what is it all about?
MRAM is a memory (RAM) technology that uses electron spin to store information (based on Spintronics). MRAM has been called "the ideal memory", potentially combining the density of DRAM with the speed of SRAM and non-volatility of FLASH memory or hard disk, and all this while consuming a very low amount of power.
MRAM can resist high radiation, and can operate in extreme temperature conditions, very suited for military and space applications.
So what does it mean to me?
MRAM can actually replace all the memory in our computers - DRAM, Flash and even Hard-Discs. It can also be speed-competitive with SRAM (the CPU cache memory). MRAM-enabled computers will be able to be turned-on instantly (because there will be no need to have several memory types like today).
MRAM in mobile devices can mean more storage, and longer battery life.
How does MRAM work?
MRAM normally functions by constructing minuscule magnetic fields at intersections in a grid of nanoscopic power rails. When current attempts to travel through a power rail which is opposing the polarization of one of the magnetic field bits, its current flow is mitigated and the bit value stored by the field is detected by this weakened current flow.
Is it available today?
In July 2006, Freescale started selling the first commercial MRAM module, with 4Mbit of memory, for 25$ a piece. This is still very expensive and low densitiy, and probably suits a very small list of select customers - although Freescale reported in 2008 that it already sold more than a million chips, and has over 40 customers for their MRAM technology (which was later spun-off into EverSpin).
Several other companies are also working on MRAM, and a realistic timeframe for a cellphone with MRAM, or an MRAM Disk-On-Key is probably 2010. Toshiba, for example, is working on 1Gb chips, and says that in 2015 MRAM will become competitive for DRAM.
Types of MRAM
There are several "newer" types of MRAM (STT-RAM, NV-RAM, etc.), that promise to deliver higher-density and cheaper manufacturing. Currently several companies (Hynix, Grandis, STT, Samsung) are working on STT-RAM (Spin Transfer MRAM), which might prove the most promising technology, although it is too early to say.