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StocksMedium•30 April 2026•

1 min read

Everspin Technologies Secures $40M Contract for Strategic MRAM Development

Key Facts

1Everspin Technologies secured a $40 million IDIQ subcontract with Amentum Services Inc. to support U.S. government microelectronics RDT&E programs.

2The agreement spans 30 months and focuses on developing on-shore manufacturing capabilities for Toggle MRAM for strategic systems.

Everspin Technologies has secured a $40 million Indefinite Delivery, Indefinite Quantity (IDIQ) subcontract with Amentum Services Inc. to support U.S. government microelectronics research and development programs. The agreement spans 30 months and focuses on developing on-shore manufacturing capabilities for Toggle MRAM used in strategic systems. This contract aims to establish a reliable domestic supply chain for specialized memory chips essential for defense and advanced microelectronics. The deal aligns with Everspin's positive earnings momentum and its strategic positioning within government-funded technology initiatives. Market analysts view this development as a significant milestone for the mid-cap company, potentially driving long-term growth in the semiconductor sector.