An anonymous reader writes "HP researchers have built the first functioning hybrid memristor-transistor chip. Lead researcher Stanley Williams and his team built the very first memristor — the '4th fundamental element' of integrated circuits after resistors, capacitors and inductors — back in April. Memristors can remember their resistance, leading to novel electronic capabilities. The new FPGA circuit uses memristors to perform tasks normally carried out by (many more) transistors and is therefore smaller, more power efficient and cheaper to make, HP says. Memristors could also turn out to be a more compact, faster alternative to flash memory."