A first principle analysis of Magnetic Tunnel Junction (MTJ) having electrodes of Iron–Aluminum (Fe–Al) alloy separated by MgO (barrier) is presented. In Fe–Al alloy, narrowing of d bands in Fe atoms occur due to hybridization between 3p orbital of Al and 3d orbital of Fe. This increases electronic scattering rate resulting in reduction of propagation of Δ2, Δ2' and Δ5 symmetries of Bloch states through barrier of MTJ. As a result, tunneling magneto resistance (TMR) of MTJ is very high around 5000% for 0.4–1 V. Moreover, it has been found that spin injection efficiency and spin transfer torque (STT) both increase, thereby, improving switching speed of MTJ.
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