Weebit Nano share price leaps 5% on ‘huge milestone’

The Weebit Nano Ltd (ASX: WBT) share price is soaring on news the first silicon wafers integrating Weebit’s embedded Resistive Random-Access Memory (ReRAM) module have been delivered.

They were shipped from technology realisation partner SkyWater Technology (NASDAQ: SKYT)’s United States production fab.

Weebit Nano CEO Coby Hanoch said their arrival represents “a huge milestone towards commercialisation”.

The Weebit Nano share price is up 5.37% at the time of writing, trading at $3.14.

Let’s take a closer look at today’s news from the All Ordinaries Index (ASX: XAO) computer memory technology developer.

‘A huge milestone towards commercialisation’

The Weebit Nano share price is taking off today as the company takes a major step towards the commercialisation of its next-generation memory technology.

The manufacturing of Weebit ReRAM has been proven with standard tools and mature process flow.

The silicon wafers will now be sliced into chips and packaged before being tested and qualified.

The chips were manufactured in SkyWater’s 130nm CMOS process – already employed for billions of devices for automotive, industrial, and consumer applications.

They’ll be used in customer demonstrations, testing, and prototyping ahead of commercial orders and volume production. That will allow customers to begin designing system-on-chips using the modules.

Commenting on the news driving the Weebit Nano share price higher today, Hanoch said:

This increases the confidence of potential customers in our IP, pushing forward companies interested in engaging with us, and we’re seeing discussions with potential customers ramping up as we get closer to production.

The demo chips produced by SkyWater integrating Weebit’s ReRAM module are enabling these companies to see the true advantages our technology can provide.

SkyWater chief revenue officer Mark Litecky also commented:

We already see strong interest for the technology for applications including internet of things, power management, and mixed-signal integrated circuits.

Full qualification of the demo chips in SkyWater’s production fab is expected to be completed in the first half of 2023.

Weebit Nano share price snapshot

The Weebit Nano share price has been outperforming lately.

Today’s gains included, it’s 9% higher than it was at the start of 2022. Though, it has fallen around 2% since this time last year.

Meanwhile, the All Ordinaries Index has fallen 10% year to date and 8% over the last 12 months.

The post Weebit Nano share price leaps 5% on ‘huge milestone’ appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 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 Scott Phillips.

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