The 4DS (ASX:4DS) share price is soaring today. Here’s why

The latest step towards producing 4DS’ megabit memory storage wafers has seen its shares soaring.

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Shares in 4DS Memory Ltd (ASX: 4DS) are in the green today after the company released news it has received 2 units of its wafer memory technology.

At the time of writing, the 4DS share price is up 3.45% trading at 15 cents after hitting an intraday high of 16 cents apiece earlier today.

This makes it one of the top performers of the S&P/ASX All Technology Index (ASX: XTX) today. In contrast, the All Ordinaries Index (ASX: XAO) is down 1.9% today.

Let’s take a closer look at today’s news from the memory technology developer.

Quick refresher

4DS is working to create more functional, less expensive high-density, high-volume mobile and cloud memory storage.

This storage is needed in modern computers and mobile technology.

4DS has partnered with Belgium-based Interuniversity Microelectronics Centre (imec) to produce a megabit memory chip to run its mobile and cloud storage technology, named Interface Switching ReRAM.

4DS says it’s Interface Switching ReRAM will be the “next generation” of gigabyte mobile and cloud storage.

Currently, 4DS and imec are working together to develop wafers needed in the megabit memory chip.

Wafers arrive

According to 4DS’ release, the company has received 2 sets of wafers from imec.

One set is 4DS’ Second Platform Lot which, if successful, the company believes will bring it closer to completing a corporate transaction by the end of 2021.

The company now has 18 wafers from its Second Platform Lot at its facility in Fremont.

Additionally, the company used spare capacity on imec’s production equipment to produce a Third Non-Platform Lot of 23 wafers.

According to 4DS, the Third Non-Platform Lot will ensure the company can continue to build data sets for its Interface Switching ReRAM technology..

4DS is now conducting analysis of the wafers. It will update the market on the outcomes of the analysis in time.

4DS share price snapshot

2021 has been a good year for the 4DS share price, which has gained 7.2% year to date.

4DS shares have also gained 200% since this time last year.

The company has a market capitalisation of around $191 million, with approximately 1 billion shares outstanding.

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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 Bruce Jackson.

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