jones_supa (887896) writes "The British scientist Stuart Parkin, whose work made it possible for hard disks to radically expand in size, has been awarded the Millennium Technology Prize (Millennium-teknologiapalkinto). Professor Parkin's discoveries rely on magneto-resistive thin-film structures and the development of the giant magnetoresistance (GMR) spin-valve read head. These advances allow more information to be stored on each disk platter. Technology Academy Finland — the foundation behind the award — justifies the prize by saying that Parkin's innovations allow us to store large volumes of data in cloud services." He is currently working on Racetrack memory, which would obsolete flash and hard disks (and probably even RAM).