---
title: "IBM put Everspin MRAM in its 105TB SSDs; the only insider print this month is $19.08"
description: "IBM's newest FlashCore drives carry Everspin MRAM where supercapacitors used to sit, and the memory shortage is the sales pitch for its first CXL-attached demo. Neither carries a disclosed dollar figure; the only firm print this month is three officers selling at $19.08, with the stock closing at $16.45."
publisher: "The Inference"
section: "Hardware"
published: 2026-10-11T15:28:50.300Z
modified: 2026-10-11T15:28:50.300Z
canonical: https://theinference.org/article/ibm-put-everspin-mram-in-its-105tb-ssds-the-only-insider-print-this-month-is-19-08
language: en
keywords: "Everspin Technologies, IBM, Memory, Storage, Insider Sales, Semiconductors"
---

# IBM put Everspin MRAM in its 105TB SSDs; the only insider print this month is $19.08

> IBM's newest FlashCore drives carry Everspin MRAM where supercapacitors used to sit, and the memory shortage is the sales pitch for its first CXL-attached demo. Neither carries a disclosed dollar figure; the only firm print this month is three officers selling at $19.08, with the stock closing at $16.45.

## IBM swapped supercapacitors for Everspin silicon

[IBM](https://theinference.org/markets/companies/ibm)'s fifth-generation FlashCore Modules carry a few hundred megabytes of [Everspin](https://theinference.org/markets/companies/everspin-technologies) MRAM as a non-volatile write cache and journal, so the drives survive a power cut without supercapacitors and the reclaimed board space holds more NAND [1]. What that content earns Everspin appears nowhere; the only firm print on the stock this month is three officers selling at $19.08, and MRAM [closed at $16.45 on October 9](https://www.marketbeat.com/stocks/NASDAQ/MRAM/institutional-ownership/) [2][3][4][5].

The drives [scale to 105.6 TB raw and 316.8 TB compressed](https://www.blocksandfiles.com/flash/2026/10/05/ibm-using-everspin-mram-in-5th-gen-flashcore-modules/5300966) [1]. The relationship runs deep: FCM3 carried up to 128 MB of Toggle MRAM, FCM4 moved to the 1 Gb PERSYST part in April 2024, and Everspin has shipped its 1 Gb DDR4 chip to IBM since 2017, generation after generation [1][6].

## A CXL demo pitched straight at the shortage

At SNIA's developer conference, Everspin ran [four 1 GB PERSYST DDR4 modules behind a Wolley CXL controller as a 4 GB persistent tier](https://uk.finance.yahoo.com/news/everspin-demonstrates-world-first-cxl-130000196.html), aimed at AI checkpointing and key-value caches [6][7][8]. Everspin rates the writes up to 100x faster than NAND-based solid-state storage [7].

"[The memory shortage has greatly helped us to basically push the use case of CXL attached memory](https://www.eetimes.com/cxl-connected-mram-address-ai-storage-latency/)," strategy chief Steffen Hellmold said [8]. The shortage is real: TrendForce counts [DRAM contract prices up about 90% to 95% in the first quarter of 2026 and another 58% to 63% in the second](https://finance.yahoo.com/markets/stocks/articles/memory-shortage-not-over-more-180200318.html), with NAND roughly tripled, and [Micron](https://theinference.org/markets/companies/micron)'s May quarter alone brought in $41.5 billion [9]. [The demo](https://theinference.org/article/everspin-s-cxl-mram-demo-is-a-sales-call-and-the-rig-on-the-crate-shows-it) names no customer and carries no price.

## The only print this month is $19.08

On October 2, CEO Sanjeev Aggarwal sold 19,572 shares at $19.08, CFO William Cooper 3,115, and sales VP Sean Dougherty 7,691, roughly $580,000 combined; [every footnote says the shares covered taxes on vesting RSUs](https://www.sec.gov/Archives/edgar/data/1438423/000162828026065028/0001628280-26-065028-index.htm), and none ran under a 10b5-1 plan [2][3][4]. Aggarwal kept 813,627 shares, roughly 3.4% of the 24.3 million outstanding [2][10].

*Chart: **The CEO's sale outstripped the other two officers' combined, all at $19.08** Bar chart ranking shares sold on October 2, 2026 by three Everspin officers: CEO Sanjeev Aggarwal 19,572 shares, sales VP Sean Dougherty 7,691, CFO William Cooper 3,115*

*Shares sold on October 2, 2026, per Forms 4 filed October 5; each sale covered taxes on vesting RSUs and none ran under a 10b5-1 plan. Combined proceeds were about $580,000 at $19.08 a share. [2][3][4]*

Tax sales are the least bearish kind, and [EDGAR's log](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001438423&type=4&dateb=&owner=include&count=40) shows no other Everspin Form 4 filed this month [11]. MRAM closed at $16.45 on October 9, about 14% below the officers' price [5]. Who has been buying under that print, and why, no filing shows.

## The record quarter was defense money

[Second-quarter revenue hit a record $18.7 million, up 42%](https://www.morningstar.com/news/business-wire/20260805302730/everspin-reports-unaudited-second-quarter-2026-financial-results), with $2.9 million of non-GAAP income; a $4.0 million litigation bill helped push the GAAP result to a $3.6 million loss [10]. The disclosed driver was not the data-center story: the CEO credited initial revenue under a recently signed $40 million contract with a US prime contractor, with growth led by aerospace and defense [10].

*Chart: **Everspin revenue bottomed at $10.6M and hit a record $18.7M eight quarters later** Line chart of Everspin quarterly revenue from Q3 2023 to Q2 2026, bottoming near $10.6M in mid-2024 and reaching a record $18.7M in Q2 2026*

*Quarterly total revenue, US$ millions, as reported in Everspin's SEC filings; no estimates or guidance plotted. Retrieved October 11, 2026. [10][12]*

At $16.45 the market values those 24.3 million shares just under $400 million, against a $75 million annualized run rate [5][10]. A design win nobody prices is a story; a Form 4 is a number. The next reading is dated: third-quarter results, guided to $19.5 million to $20.5 million, will show whether the data-center pipeline or the defense contract does the growing [10].

## Takeaway

IBM's top-end SSDs now carry Everspin MRAM, and its first CXL-attached demo rides a memory shortage, but neither carries a disclosed dollar value; the firm prints this month are three officer sales at $19.08, a $16.45 close, and a defense-driven record quarter with Q3 guided to $19.5M to $20.5M.

## Sources

1. [Blocks & Files, Chris Mellor, IBM using Everspin MRAM in 5th gen FlashCore Modules, 5 October 2026](https://www.blocksandfiles.com/flash/2026/10/05/ibm-using-everspin-mram-in-5th-gen-flashcore-modules/5300966)
2. [US SEC Form 4, Everspin Technologies, Sanjeev Aggarwal, President and CEO, filed 5 October 2026](https://www.sec.gov/Archives/edgar/data/1438423/000162828026065028/0001628280-26-065028-index.htm)
3. [US SEC Form 4, Everspin Technologies, William Earl Cooper, Chief Financial Officer, filed 5 October 2026](https://www.sec.gov/Archives/edgar/data/1438423/000162828026065020/0001628280-26-065020-index.htm)
4. [US SEC Form 4, Everspin Technologies, Sean Michael Dougherty, Vice President Sales, filed 5 October 2026](https://www.sec.gov/Archives/edgar/data/1438423/000162828026064996/0001628280-26-064996-index.htm)
5. [MarketBeat, Everspin (MRAM) quote page, closing price 9 October 2026, accessed 11 October 2026](https://www.marketbeat.com/stocks/NASDAQ/MRAM/institutional-ownership/)
6. [Forbes, Tom Coughlin, MRAM At The SNIA SDC And 10 Years Since The Everspin IPO, 5 October 2026](https://www.forbes.com/sites/tomcoughlin/2026/10/05/mram-at-the-snia-sdc-and-10-years-since-the-everspin-ipo/)
7. [Business Wire via Yahoo Finance UK, Everspin Demonstrates World's First CXL-Connected MRAM at SNIA Developer Conference 2026, 29 September 2026](https://uk.finance.yahoo.com/news/everspin-demonstrates-world-first-cxl-130000196.html)
8. [EE Times, Gary Hilson, CXL-Connected MRAM Address AI Storage Latency, 6 October 2026](https://www.eetimes.com/cxl-connected-mram-address-ai-storage-latency/)
9. [Zacks Investment Research via Yahoo Finance, The Memory Shortage Is Not Over: More Upside for Micron and Sandisk?, 17 September 2026](https://finance.yahoo.com/markets/stocks/articles/memory-shortage-not-over-more-180200318.html)
10. [Business Wire via Morningstar, Everspin Reports Unaudited Second Quarter 2026 Financial Results, 5 August 2026](https://www.morningstar.com/news/business-wire/20260805302730/everspin-reports-unaudited-second-quarter-2026-financial-results)
11. [US SEC EDGAR, Everspin Technologies (CIK 0001438423) Form 4 filing history, accessed 11 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001438423&type=4&dateb=&owner=include&count=40)
12. [Everspin Technologies, quarterly figures from its SEC filings (EDGAR), retrieved 11 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001438423)


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IBM put Everspin MRAM in its 105TB SSDs; the only insider print this month is $19.08 — The Inference. Canonical: https://theinference.org/article/ibm-put-everspin-mram-in-its-105tb-ssds-the-only-insider-print-this-month-is-19-08