Tai Adesiona

Tai Adesiona from Principal Global asked for clarification on NVE's MRAM strategy, specifically whether it represents primarily an intellectual property (IP) licensing opportunity or if new capacity could enable direct sales to MRAM end customers. He also inquired about the high-level view of NVE's current end market mix shift and how the recently added production capacity might influence or change this mix.

Answer

Dan Baker, President and CEO, explained that NVE's MRAM strategy focuses on high-value-added memories for specialized applications like crypto keys in anti-tamper devices, rather than large-scale memory production requiring multi-billion-dollar fabs. He confirmed that NVE's participation in the broader MRAM market would primarily be through licensing its developed intellectual property. Dan Baker stated that the new capacity is specifically aimed at emerging markets such as the Internet of Things (IoT) and Artificial Intelligence of Things (AIoT) for industrial automation and smart factories, highlighting these as significant opportunities for NVE's sensors, envisioning ubiquitous, small sensors providing data for self-optimizing factories.

Tai Adesiona from Principal Global Investors asked about NVE Corporation's MRAM strategy, specifically whether it's primarily an intellectual property licensing opportunity or if new production capacity could facilitate direct sales to MRAM end customers. She also inquired about the current end-market mix and how the recently added capacity might influence future market diversification.

Answer

Dan Baker, President and CEO, clarified that NVE's MRAM focus is on high-value, specialized applications like crypto keys for anti-tamper devices, with a strategy to monetize broader MRAM applications through IP licensing rather than large-scale memory production. He added that the new capacity is strategically aimed at emerging markets such as the Internet of Things (IoT) and Artificial Intelligence of Things (AIoT) for industrial automation, anticipating a future of ubiquitous, small sensors for smart, self-optimizing factories.