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DRAM, short for dynamic random-access memory, loses most of the data it stores when power is shut off. Flash memory can store data long term, and is much cheaper than DRAM, but it’s slower. So most computing devices use both: DRAM for short-term memory, and flash (which has largely replaced mechanical disk drives) for long-term storage. Micron pitches 3D Xpoint as faster than flash but cheaper than DRAM, which could be a boon for applications that depend on large data sets, such as artificial intelligence. Most important, says Objective Analysis analyst Jim Handy, it's patented technology that customers won't be able to get anywhere but Intel and Micron. Micron was founded in 1978 by three former engineers for Texas-based memory maker Mostek, along with one cofounder’s twin brother. The team spent their early years doing consulting work for Mostek out of the basement of a dentist's office in Boise. Micron lost its contract after United Technologies acquired Mostek in 1979, so the team decided to start making its own DRAM chips. That meant competing not only with Mostek, but with Intel, which pioneered DRAMs.
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