Using temperature-dependent magnetoresistance and magnetization measurements on Fe/Cr multilayers that exhibit pronounced giant magnetoresistance (GMR), we have found evidence for the presence of a glassy antiferromagnetic (GAF) phase. This phase reflects the influence of interlayer exchange coupling (IEC) at low temperature (T < 140K) and is characterized by a field-independent glassy transition temperature, Tg, together with irreversible behavior having logarithmic time dependence below a "de Almeida and Thouless" (AT) critical field line. At room temperature, where the GMR effect is still robust, IEC plays only a minor role, and it is the random potential variations acting on the magnetic domains that are responsible for the antiparallel interlayer domain alignment. Given the established presence of GMR-based devices in technology, especially in the multi-billion dollar computer hard disk drive market, it may come as a surprise that there is still an incomplete scientific understanding of the GMR effect [1]. The mechanism for GMR, first observed in single crystalline (100) Fe/Cr multilayers grown by molecular beam epitaxy [2,3] and subsequently in magnetron-sputtered polycrystalline films[4], relies on spin-dependent scattering [5] and the associated dependence of resistance on the relative orientations of the magnetizations in neighboring layers. It is important to recognize that interlayer exchange coupling (IEC) is not necessarily required for a GMR effect [1]. In a particularly simple manifestation, two neighboring films, separated by a non-magnetic spacer layer, could have different coercive fields, thus giving rise to antiparallel alignment and a GMR effect, as the external field is cycled [6]. Randomness [7,8] and competing interactions such as biquadratic coupling [9,10] can also play a significant role. In this paper we identify a glassy antiferromagnetic (GAF) phase which by marking the influence of IEC at low temperatures implies that at higher temperatures random potential variations rather than IEC are responsible for antiparallel alignment.Our Fe/Cr multilayer samples have been prepared on silicon substrates by ion beam sputter deposition of separate Fe and Cr targets. Extensive characterization of the deposited multilayers showed distinct compositional and structural modulations with well-defined interfaces and a surface roughness on the order of 5Å. Ten and thirtylayer stacks with the repeat sequence [Fe(20Å)/Cr(d Cr )] are typically deposited and passivated with a 50Å-thick Cr layer. The Cr spacer thickness d Cr is varied over the range 8-12Å. The inset of Fig. 1 shows typical GMR traces at 300K and 10K for the magnetic field parallel to the planes of a [Fe(20Å)/Cr(12Å) ]×30 sample.In Fig. 1 we show a selected subset of temperaturedependent field-cooled (FC, open symbols) and zerofield-cooled (ZFC, closed symbols) magnetization data for a thirty layer sample with d Cr = 12Å and a GMR ratio ((R(0) − R(H))/R(0), Fig. 1 inset) of 20.6% at 10K. The data were taken using a SQUID magnetometer in fi...