The 2007 Nobel Prize in Physics: Magnetism and transport at the nanoscale

The 2007 Nobel Prize in Physics was awarded to Peter Grunberg and Albert Fert for the discovery of giant magnetoresistance (GMR). GMR is a phenomenon that is intimately linked to the nanostructuring of magnetic materials and has had broad scientific and economic impact. Here, we summarize the early scientific studies of magnetic thin films and superlattices that enabled the discovery of GMR, and we describe the evolution of spin-electronics (spintronics) that has emerged since its discovery.