Last month, during Everspin's conference call, the company updated that it has signed a contract with Purdue University to advance AI hardware based on its MRAM technology, valued at $10.5 million over four years. Now the company has officially announced this new contract.
Everspin says that this is 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 years. The current phase with Everspin Technologies is valued at approximately $4 million.
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 says that its 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 further says that its AgILYST MRAM technology supports AI acceleration and next-generation memory architectures by offering the versatility needed for innovative solutions.
Disclosure: the author of this post holds shares at Everspin
