Truth Memory Corporation (TMC), established in 2019 in China, is a startup that develops MRAM memory technologies.
In 2025, researchers from TMC and Beihang University fabricated PUF based on a 180 nm 1 Kbit SOT-MRAM chip. In early 2026, the company reported the world's first 8 Mb SOT-MRAM device.
Vertical Compute, spun from from the imec institute in 2025, aims to commercialize an MRAM technology developed at imec for the execution of large language AI models, hoping to reduce power consumption by 80% and speed up the execution by 100X.
Vertical Compute raised 20 million Euro in 2025 led by imec.xpand and supported by Eurazeo, XAnge, Vector Gestion, and imec. In early 2026, the company raised a further $67 million.
Japan-based Kioxia (formally Kioxia Holdings Corporation, is a memory producer. Kioxia was spun-off from Toshiba as Toshiba Memory Corporation back in 2018, and was renamed in 2019. Kioxia is one of the world's leaders in NAND memory and holds an estimated 18% global market share.
Kioxia is developing MRAM technologies in collaboration with Hynix.
Taiwan Semiconductor Manufacturing Company (TSMC) is the world's leading semiconductor contract manufacturing and design company.
TSMC is currently offering 22nm eMRAM option as an eFlash alternative. The company is also developing 16, 14 and 12 nm eMRAM options to replace SRAM memory.
GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers with a global footprint. GF was established in 2008 as a spin-off from AMD (which became fabless).
GF is offering embedded MRAM solutions on its 22FDX 22nm platform, based on Everspin's MRAM IP. The company is also developing MRAM solutions for 12 nm processes.
Netsol was established in Korea in 2010, targeting the niche memory markets. The company offers SRAM memory devices and STT-MRAM solutions.
Netsol's first MRAM products are offered in densities of 1Mb to 64 Mb, with either serial or parallel interfaces. The company started mass producing its MRAM products in August 2023.
Spin-Ion Technologies, established in 2017 as a spin-off from CNRS, developed a unique patented process that increases the performance of MRAM magnetic layers - by improving the homogeneity, increasing the magnetic performance and increasing yields.
Established in 2011 in the US, Rangduru developed an MRAM memory structure called DX MRAM that uses a cell structure that is twice as dense as current MRAM structures.
Rangduru operates in a fabless model and develops both discrete MRAM chips and embedded MRAM technologies.
HFC Semiconductor develops MRAM technology for both stand-alone and embedded applications.
HFC plans to build its own full MRAM production facility.
Crocus Nanoelectronics (CNE) was established in 2011 in Russia by Rusnano (as a joint-venture with Crocus Technology, which holds 20% of CNE). CNE is an advanced 300 mm wafer fab for 90/65 nm nodes. The company is no longer in business.
CNE focuses on emerging technology and devices, including non-volatile memories, magnetic sensors, bio-electronic sensors, integrated passive devices, wafer level magnetics and highly engineered semiconductor wafer processing. CNE has its own STT-MRAM project with plans to offer embedded STT-MRAM solutions.
