Saimemory, a subsidiary of multinational investment giant SoftBank , has signed a collaboration agreement with American chipmaker Intel Corp. to advance the commercialization of next-generation memory technology, the companies announced Tuesday.
The partnership focuses on next-generation memory technologies that can support the growing demands of artificial intelligence and high-performance computing. The effort is currently known as the "Z-Angle Memory program," or ZAM.
Prototypes are expected by the fiscal year ending March 31, 2028, with commercialization targeted for fiscal 2029, according to a SoftBank press release.
Shares of SoftBank rose 3.13%, while Intel stock rose 5% in overnight trading on Robinhood following the announcement.