Let's make a couple of assumptions for the sake of discussion, but may be wrong of course.
- CBRAM is a bit more expensive to manufacture than WBT's ReRAM
- WBT is currently working closely with GF, including tape-out at 22nm
GF may have wanted CBRAM as a bird in the hand in case WBT's ReRAM is delayed. They maybe got it at a cheap price. Buying it from Renesas also prevented other fabs from buying it. Yes, this would create a similar situation to TSMC and their ReRAM, in that they can supply their own customers but not release it to other fabs and their customers.
This leaves all the other fabs as a prospective market for WBT's ReRAM and there are lots of those fabs, both tier 1 and others below. Meanwhile, both TSMC and GF might wish to have WBT's ReRAM in their offerings to their respective customers, so WBT can also win there. WBT could take a worthwhile share of that part of the market if their ReRAM is superior to and maybe cheaper than the other two offerings.
One factor that hasn't yet been mentioned with regard to GF's CBRAM is that the assumed additional cost of manufacture will be offset by the elimination of licensing and royalty fees because they own it. On the other hand, if GF use WBT's ReRAM, there would be payments per wafer and/or per chip. This situation could act as a cost-leveller between the two technologies, in GF's fab anyway.
I look forward to other views.
WBT Price at posting:
$5.95 Sentiment: Buy Disclosure: Held
(20min delay)