ZDNet has an article about 3-D memory chips. The chips will be built using many more layers of circuitry than existing chips, and as a result resemble microscopic cubes instead of the existing chips which are much flatter. The chips will apparently incorporate some design techniques taken from digital flat panels.
The chips will be produced by a company named Matrix (with an i; insert your favorite Matrox/3-D joke here) and the technique will initially be used for flash memory cards. One benefit of the technique is lower cost of production; the extra layers mean many more chips per wafer.
Matrix claims that their technique would allow them to produce a 64MB flash memory card that would sell for around $10, while current 64MB cards cost $38 according to the article. Given that Toshiba, Sony and Eastman Kodak are among the investors, it seems likely we will see these chips in devices relatively soon.
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