The remarkable achievements in the area of integrated optical memories and optical random access memories (RAMs) together with the rapid adoption of optical interconnects in the Datacom and Computercom industries introduce a new perspective for information storage directly in the optical domain, enabling fast access times, increased bandwidth and transparent cooperation with optical interconnect lines. This article reviews state-of-the-art integrated optical memory technologies and optical RAM cell demonstrations describing the physical mechanisms of several key devices along with their performance metrics in terms of their energy, speed and footprint. Novel applications are outlined, concluding with the scaling challenges to be addressed toward allowing light to serve as both a data-carrying and data-storage medium.