Intel and Micron have unveiled a new type of memory chip, claiming the chips are a breakthrough in data storage.

Called 3D Xpoint, the chips are denser, stronger and faster than other types of storage, according to Intel. In fact, the company says that 3D Xpoint is as much as 1,000 times faster than the NAND architecture that runs most flash storage chips and solid state hard drives.

"For decades, the industry has searched for ways to reduce the lag time between the processor and data to allow much faster analysis," said Rob Crooke, senior vice president and general manager of the Nonvolatile Memory Solutions Group at Intel, in a statement. "This new class of nonvolatile memory achieves this goal and brings game-changing performance to memory and storage solutions."

The companies behind the new chip suggest that it will spur a new wave of app development and will greatly benefit the development of computers and smartphones, among other products. The kinds of applications that will particularly benefit from the new chip will be things like voice recognition and gene study, where detection of patterns is important. The chip could also be used in things like PC gaming, and because the storage is durable and nonvolatile, it could be used long-term.

The significance of the new chip may, however, be debated. A number of companies over the past few years have claimed significant advances in data storage technology. Despite this, some suggest that because Intel and Micron have the manufacturing capabilities to back up their claims, the two companies could be beyond the research aspect of a new technique and really have a groundbreaking product on their hands. Intel has not discussed the limitations of the new technology yet.

"One of the most significant hurdles in modern computing is the time it takes the processor to reach data on long-term storage," said Mark Adams, president of Micron, in a statement. "This new class of nonvolatile memory is a revolutionary technology that allows for quick access to enormous data sets and enables entirely new applications."

The two companies also haven't revealed what kind of materials they used in the new technology or how much the new chips will cost at launch.

Intel and Micron have been collaborating on NAND technology since 2006, and creating new forms of storage tech could certainly bring in money for the two companies. In fact, around $78.5 billion worth of DRAM and NAND storage chips are expected to be purchased during 2015, according to IDC.

Via: The Wall Street Journal

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