Spingate announced that they invented a multi-bit Spin-RAM, which can store two bits per MTJ. It uses magnetic materials with perpendicular anisotropy and has a cell size of 4F2, which is the smallest currently reported in the industry. This kind of memory can provide a density of about 160 Gbits/in2 (0.257 Gbit/mm2) at 45 nm. Scaling it to 10 nm will enable 1 Tbits/in2.

If Spingate is successful in commercializing this technology, it could enable an MRAM device that can compete in price with DRAM, Flash and even HDDs - and replace all three memory technologies. We'll have to wait and see how this develops of course!

http://www.mram-info.com/spingate-developed-2-bit-mtj-structure-develop-1-tbitsin2-mram