To achieve the goal of experimentally demonstrating the p-bit, two critical material related issues have to be addressed. i) For the read unit to be able to provide an electrical signal to the next p-bit, a material stack that we characterize as a "soft magnetic tunneling junction (MTJ)" needs to be created that allows for reading the "probabilistic signal" generated from the write-unit. ii) In addition, a material combination for the write-unit that allows for the voltage controlled manipulation of magnetic information needs to be developed.