09:23 AM EST, 03/06/2025 (MT Newswires) -- Everspin Technologies ( MRAM ) said Thursday that it has been awarded a four-year, $10.5 million contract with a Purdue University-led consortium to use its technology for an energy efficient AI program.

The company said the program will conduct a comprehensive cross-layer exploration of magnetic tunnel junction-based in-memory compute macros for neural accelerators.

Everspin ( MRAM ) said its MTJs are intended to significantly reduce memory transaction power while reducing latency compared to traditional methods.