For future implementation of ferromagnetic tunnel junctions, we need a better understanding of the influence of the insulating barrier preparation method on the junction resistance, tunnel magnetoresistance ͑TMR͒, and its voltage bias dependence. In this letter, we focus on the bias dependence of junctions (Co-Al 2 O 3 -Ni 80 Fe 20 ) prepared by ultraviolet light assisted in situ oxidation in an O 2 ambient. For an initial Al thickness of 1.3 nm, the resistance times area product of the junctions is 60 k⍀ m 2 , while showing up to 20% TMR at 5 mV bias. The decrease of TMR with bias voltage up to 1 V is remarkably small leading to V 1/2 , for which half of the low-bias TMR remains, well over 0.6 V. © 2000 American Institute of Physics. ͓S0003-6951͑00͒02908-9͔Tunnel-type magnetoresistance ͑TMR͒ occurring in devices, which consist of two ferromagnetic films separated by an insulating layer, has received great attention in recent years. 1 In these tunnel-type magnetic nanostructures, the charge transport is governed by tunneling through the insulating layer, generally produced by sputter deposition of a thin aluminum layer followed by oxidation. The electron tunneling current depends on the relative orientation of the magnetic moments in the two ferromagnetic films. More exactly, it is directly proportional to the polarization values of the electrons at the two insulator/metal interfaces, which may be different from the bulk polarization of the two magnetic films.For the future implementation of ferromagnetic tunnel junctions in practical applications, such as read heads and magnetoresistive random access memories, all characteristics of the tunnel devices have to be critically controlled. The small device size required by the applications leads to the need of small resistance-area ͑RA͒ products of 1-10 k⍀ m 2 , in order to keep the device resistance and RC time constant at an acceptable level. Another important parameter in the tunneling process between the two magnetic films is the bias voltage over the insulating layer. 2,3 The bias voltage dependence of the TMR may convey information about the detailed process of spin-polarized tunneling. 4 In general, we need a more complete understanding of the relationships between the resistance, the low-bias TMR, and the reliability of the junctions measured by the breakdown voltage of the junctions. The preparation of the insulator barrier is key in the behavior of these characteristics. In this letter we focus on the excellent bias voltage dependence of junctions prepared by ultraviolet light assisted in situ oxidation in an O 2 ambient.Ferromagnet-insulator-ferromagnet junctions were fabricated on ͑100͒-oriented 4-in. silicon wafers capped with a 200 nm thermally grown SiO 2 . The top and the bottom ferromagnetic layers consist of either Co or Ni 80 Fe 20 . After deposition of the bottom electrode using dc magnetron sputtering in an Ar ambient of 6ϫ10 Ϫ3 mbar, the aluminum layer with a thickness of 1.3 nm was produced using rf sputtering in 2ϫ10 Ϫ2 mbar, followed by an i...