Orthogonal Spin Transfer MRAM developer Spin Memory liquidates
Orthogonal Spin Transfer MRAM (OST-MRAM) technology developer Spin Memory is shutting down. The company's main investor and founding company, Allied Minds, said in a statement that the main reasons challenges in securing new customers and COVID-19 which "significantly delayed the required testing of its development chip with ARM".
This is a sad ending to Spin Memory, which began its way as Spin Transfer Technologies - a spin-off from NYU that was established together with Allied Minds.