However, the downside is that MRAM is not suitable at low temperatures, which makes it a no-go for numerous applications. ReRAM doesn't have this negative and it also doesn't require an erase cycle.
The project will cost S$120 million ($88 million) and is expected to take four years. Funding will be provided by the National Research Foundation, Nanyang Technological University will take care of the research component and GlobalFoundries will support the endeavor with its manufacturing resources. Nanyang Technological University will research which materials can be used for ReRAM and GlobalFoundries will try to figure out a cost-efficient way to make ReRAM.
Right now, GlobalFoundries (and other contract makers of semiconductors) use eFlash (embedded flash) for chips that need relatively high-capacity onboard storage. This technology has numerous limitations, such as endurance and performance when manufactured using today's advanced logic technologies (i.e., sub-20nm nodes), which is something that is required of embedded memories. This is the main reason why GlobalFoundries and other chipmakers are looking at magneto resistive RAM (MRAM) to replace eFlash in future designs as it is considered the most durable non-volatile memory technology that exists today that can be made using contemporary logic fabrication processes.