Wasn't IBM also responsible for bringing the Giant Magneto-resistive (GMR) technology to the spinning disk drives, thereby increasing their capacity many-fold?

Wasn't IBM also responsible for bringing the Giant Magneto-resistive (GMR) technology to the spinning disk drives, thereby increasing their capacity many-fold? It looks like they'll do the same to flash with this PCM memory. Keeping my fingers crossed. PS: Did anyone else notice the gratuitous mention of "cloud computing" in the press release? :-D