'Ampex have been funded by the
So starts a story in Electronics Weekly's edition of July 23rd 1969.
'The new system is called the terabit memory system, and it adapts videotape recording techniques to computer technology', continues the story.
'The new contract takes the firm, which has a long history in the videotape market, into the bulk storage needs that will have to be met if the idea of mammoth data banks is to see the light of day,' adds the report, 'the unit, to be built at redwood City, California will be about 1,000 times greater in capacity than existing updatable memories.'
'The on-line operation of the system will be able to transfer data at about 1 million characters a second, with an average access time of less than 10 seconds.'