Recently, IBM revealed a prototype "racetrack memory" chip which has been baked using the same silicon fab technology.
The purpose of the research is to replicate a storage technology that combines hard-drive capabilities with flash memory speeds and also to knock around capacity.
Racetrack memory has the ability to send magnetic "strips" through nanowires which are created by "imparting spin to the electrons."
The company has worked on this technology for the past decade. In 2008 it introduced a working prototype.
On Monday, the latest breakthrough was unveiled at the IEEE International Electron Devices Meeting (IEDM) held in Washington DC by IBM.
The chip's nanowires are made by putting a nickel-iron coating on top of Silicon and thenetching the material into several wires. The average size of a nanowire is 10 nanometers in length, 150 nanometers in width, according to MIT's Technology Review.
The father of racetrack memory, Stuart Parkin, stated that further work is needed to prevent any future complications regarding the memory.