Patent ID: 6967863

Claim:
A magnetic element comprising: a first pinned layer having a first pinned layer easy axis, at least a portion of the first pinned layer easy axis being in a perpendicular direction; a spacer layer, the spacer layer being nonmagnetic and conductive; a free layer, the spacer layer residing between the first pinned layer and the free layer, the free layer having a free layer easy axis, at least a portion of the free layer easy axis being in the perpendicular direction a barrier layer, the barrier layer being an insulator and having a thickness that allows tunneling through the barrier layer; a second pinned layer having a second pinned layer easy axis, at least a portion of the second pinned layer easy axis being in the perpendicular direction, the barrier layer being between the free layer and the second pinned layer; wherein the magnetic element is configured to allow the free layer to be switched due to spin transfer when a write current is passed through the magnetic element.