IBM and TDK are joining up to advance RAM technologies, announcing the launch of a new research program aimed at MRAM. Magnetic Random Access Memory, they claim, has the potential to create memory much more compact than we see today. It has been in development for a long time, but has seen little actual use. IBM's announcement comes as no surprise, as they have been pushing for and pioneering MRAM development for a long time now.

IBM claims both them and TDK will be able to work together to explore more versatile uses of MRAM technology:

The companies will leverage their respective expertise in areas of fundamental research for new memory technology and magnetic device development to create a high density, high capacity MRAM integrated circuit which can be used as standalone memory or embedded into other IC solutions.
MRAM promises a lot of advantages over existing DRAM technologies, such as vastly lower power draw and increased speeds, but is currently plagued by size and cost issues. It has been named in the past, by companies like IBM, as a potential successor to all forms of existing RAM technology. Perhaps with TDK's assistance they will be able to push that agenda further. You can read the full press release at IBM's site.