Weebit Nano Ltd (ASX: WBT) shares have continued their impressive run with another solid gain.
In morning trade, the speculative ASX stock is up 6% to $3.78.
What is Weebit Nano?
Weebit Nano describes itself as a leading developer and licensor of advanced semiconductor memory technology.
The speculative ASX stock notes that its Resistive RAM (ReRAM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of new electronic products. This includes Internet of Things (IoT) devices, smartphones, robotics, autonomous vehicles, 5G communications, and artificial intelligence.
It highlights that its ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing flash memory solutions.
Furthermore, the company points out that as it is based on fab-friendly materials, Weebit ReRAM can be integrated within existing flows and processes faster and easier than other emerging technologies. This is without requiring special equipment or large investments.
Why is this speculative ASX stock jumping today?
Investors have been buying the company's shares today after it revealed that it has successfully taped-out (released to manufacturing) test chips featuring its embedded ReRAM module at onsemi's 300mm production fab in New York.
It notes that the chips are being developed in onsemi's Treo platform, which is a 65nm Bipolar-CMOS-DMOS (BCD) process. Onsemi is a U.S. based company that delivers intelligent power and sensing solutions for the automotive, industrial and AI data centre markets.
Management believes the tape-out represents a key milestone towards enabling Weebit ReRAM IP on onsemi's Treo platform.
For Treo-based designs, Weebit's ReRAM provides an ultra-low-power, high density NVM that unlocks new levels of intelligence and functionality. Onsemi's next-generation products are expected to use this breakthrough memory technology.
Looking ahead, the test chips will now be used for final testing and qualification ahead of anticipated volume production.
Commenting on the news, the speculative ASX stock's CEO, Cody Hanoch, said:
Our collaboration with onsemi is progressing rapidly, and this successful tape-out marks a major milestone in completing the technology transfer of Weebit ReRAM to onsemi's advanced BCD process. We've already validated our technology on multiple wafer lots using onsemi's tools and flow, optimising the process and demonstrating solid performance and reliability. We're now progressing towards qualification.
Following today's solid gain, Weebit Nano's shares are up now over 150% over the past six months. Time will tell if it lives up to these gains and its valuation, especially considering its deep-pocketed competitors in a fierce industry.
