Magnetic switching of a single molecular magnet (SMM) due to spin-polarizedcurrent flowing between ferromagnetic metallic electrodes is investigatedtheoretically. Magnetic moments of the electrodes are assumed to be collinearand parallel to the magnetic easy axis of the molecule. Electrons tunnelingthrough a barrier between magnetic leads are coupled to the SMM via exchangeinteraction. The current flowing through the system as well as the spinrelaxation times of the SMM are calculated from the Fermi golden rule. It isshown that spin of the SMM can be reversed by applying a voltage between thetwo magnetic electrodes. Moreover, the switching is reflected in thecorresponding current-voltage characteristics.
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