Memory chips keep getting faster…and smaller.
The post Why the Weebit Nano (ASX:WBT) share price is rocketing 15% appeared first on The Motley Fool Australia. –
The Weebit Nano Ltd (ASX: WBT) share price is rocketing in morning trade, up 15% at the time of writing.
The ASX tech share is involved in developing next-generation semiconductor memory technology. Below we take a look at its latest progress update.
What progress did Weebit announce?
Weebit Nano’s share price is gaining after the company announced it has created the “commercial integration of an oxide-based ReRAM (OxRAM) cell with an ovonic threshold switching (OTS) selector”.
In an industry first, the company said this represents an important step towards commercialisation for the stand-alone memory market.
A selector enables optimised cell access within a memory chip’s array. Weebit said that OTS technology is ideal for selectors in standalone (discrete) ReRAM chips for its tiny size, low energy use, high switching speed and endurance.
Weebit reported it had achieved this success, alongside development partner CEA-Leti, 3 months ahead of schedule. It reported this will enable the “implementation of 3D memory stacking and crossbar architectures” in future developments.
Commenting on the progress, Weebit’s CEO Coby Hanoch said:
This achievement demonstrates our commitment to addressing the discrete memory market as part of our mid-term strategy. We see a broad range of opportunities for discrete ReRAM, from NOR flash to storage class memory, in a range of segments.
Given our 2024 target for a discrete solution, we anticipate that other opportunities will arise as well. We will continue to share our progress in meeting this mid-term goal, while we continue our near-term focus on the embedded memory module where we are making good progress.
Gabriel Molas, senior scientist at CEA-Leti, noted that creating the required OTS selector was highly complex and based on several years of research by the partnership’s team.
Weebit Nano share price snapshot
Weebit Nano shares have had a stellar 12 month run, up 570% since this time last year. By comparison, the All Ordinaries Index (ASX: XAO) has gained 28% over that same time.
Year-to-date the Weebit Nano share price remains down 31%, despite today’s big lift.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of May 24th 2021
Is A2 Milk (ASX:A2M) now an ASX value share?
Why Charter Hall, Collins Foods, Endeavour Group, & Telix are pushing higher
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.