Spin-transfer torque memory includes a composite free magnetic element, a
reference magnetic element having a magnetization orientation that is
pinned in a reference direction, and an electrically insulating and
non-magnetic tunneling barrier layer separating the composite free
magnetic element from the magnetic reference element. The free magnetic
element includes a hard magnetic layer exchanged coupled to a soft
magnetic layer. The composite free magnetic element has a magnetization
orientation that can change direction due to spin-torque transfer when a
write current passes through the spin-transfer torque memory unit.