According to a press release posted at WebWire, Fujifilm developed a method to enhance the IBM’s NANOCUBIC tape formulation to create a tape cartridge with 700GB of uncompressed storage capacity. The technology was developed for use in the IBM System Storage TS1120 Tape Drive, introduced in 2005 and now the first enterprise-grade tape system to offer 700 GB of uncompressed storage capacity on a single cartridge.
According to the article, this announcement is the next step to achieving multiple terabyte storage on a single cartridge; IBM researchers were able to demonstrate the ability to store 6.67 billion bits (Gigabits) per square inch of data tape using the linear recording format.
The main usage of these tapes is to build storage systems in enterprise enveironments. No info about prices, but probably it's not something affordable by the average user for private use. .
