The spin dynamics in Ni is studied by an exact diagonalization method on the
ultrafast time scale. It is shown that the femtosecond relaxation of the
magneto-optical response results from exchange interaction and spin-orbit
coupling. Each of the two mechanisms affects the relaxation process
differently. We find that the intrinsic spin dynamics occurs during about 10 fs
while extrinsic effects such as laser-pulse duration and spectral width can
slow down the observed dynamics considerably. Thus, our theory indicates that
there is still room to accelerate the spin dynamics in experiments.Comment: 4 pages, Latex, 4 postscript figure