MIT Develops Compressed Graphene Sponge with Endless Uses

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Engineering news on Phys.org
The new material, a sponge-like configuration with a density of just 5 percent, can have a strength 10 times that of steel.
That was only the result of a computer simulation.

Also, what does "strength" mean? There are many parameters related to the strength, steel is good in all of them. For special applications (like tensile strength only), there are much better materials already.
could lead to a replacement for helium for strong yet light dirigible applications
That was hoped, the new research rules out this application, as discussed later in the text.

Let's see if they can make an actual material with good properties, and then let's see how expensive that is.