Everspin officially announces its $10.5 million MRAM IP and foundry services agreement with Purdue University
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.
Source: http://www.mram-info.com/everspin-officially-announces-its-105-million-mram-ip-and-foundry-services-agreement-purdue
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