Nantero, Inc. is building a high density nonvolatile random access memory chip, which can replace DRAM (dynamic RAM), SRAM (static RAM), flash memory, and ultimately hard disk storage--in other words a universal memory chip suitable for countless existing and new applications in the field of electronics. The target markets in aggregate exceed $100B in revenue per year. Nantero's product is called NRAM (Nanotube-based/ Nonvolatile RAM), developed using proprietary concepts and methods derived from leading-edge research in nanotechnology.

Nantero has created multiple prototype devices, including an array of ten billion suspended nanotube junctions on a single silicon wafer. Nantero's design for NRAM involves the use of suspended nanotube junctions as memory bits, with the "up" position representing bit zero and the "down" position representing bit one. Bits are switched between states through the application of electrical fields. The wafer was produced using only standard semiconductor processes, maximizing compatibility with existing semiconductor factories.