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A theoretical model is proposed to investigate the electromigration (EM) behavior in giant magnetoresistance spin valve (GMR SV) read sensors under pulsed direct current (dc) magnetic field during sensor operation. It was found that the externally applied magnetic field gives rise to a more severe Joule heating and consequently raises the device temperature leading to EM acceleration. Black's equation was modified based on Green's function method and the Boltzmann equation to more precisely interpret the EM mean time to failure (MTTF) of GMR SV read sensors under pulsed dc magnetic field. The physical validity of this proposed model was confirmed by the comparisons with experimental results.