SAN FRANCISCO— Intel Corp. and Micron Technology Inc. say they developed a new breed of memory chips that could bring dramatic performance gains to computers, smartphones and other kinds of high-tech products.

The companies say the chips they plan to sell next year will be up to 1,000 times faster than the NAND flash memory chips now used in most mobile devices, while storing 10 times more data than dynamic random access memory, or DRAM, chips that are another mainstay of electronics hardware.

Their technology—dubbed 3D Xpoint—doesn’t quite match the speed of DRAM. But unlike those chips—and like NAND flash memory—the new chips will retain data even after they are powered off, the companies say.

Intel and Micron executives predict the new chips’ speed will spur new kinds of applications and greatly benefit others, particularly those that rely on finding patterns in large amounts of data, like voice recognition, financial fraud detection and genomics.

“It truly is revolutionary,” said Mark Durcan, Micron’s chief executive, at an event here Tuesday.