This paper presents the design and the characteristics of a nonvolatil
e memory cell using giant magneto-resistance effects. Unlike other mag
netic memory cells [1], the present cell design [2] exploits the full
Delta R of the spin valve material. A dc voltage difference between th
e two cell states of 30 mV range has been realized on a cell stripe on
ly 6-micron long, making it compatible with the high-speed sensing sch
emes presently employed in silicon RAMs. The cell switches states in s
ub-nanoseconds. Its performance/density is close to that of the static
RAM cell.