Valley Stoner instability of the composite Fermi sea

We study two-component electrons in the lowest Landau level at total filling factor $\nu _T=1/2$ with anisotropic mass tensors and principal axes rotated by $\pi/2$ as realized in Aluminum Arsenide (AlAs) quantum wells. Combining exact diagonalization and the density matrix renormalization group we demonstrate that the system undergoes a quantum phase transition from a gapless state in which both flavors are equally populated to another gapless state in which all the electrons spontaneously polarize into a single flavor beyond a critical mass anisotropy of {\bf $m_x/m_y \sim 7$}. We propose that this phase transition is a form of itinerant Stoner transition between a two-component and a single-component composite fermi sea states and describe a set of trial wavefunctions which successfully capture the quantum numbers and shell filling effects in finite size systems as well as providing a physical picture for the energetics of these states. Our estimates indicate that the composite Fermi sea of AlAs is the analog of an itinerant Stoner magnet with a finite spontaneous valley polarization. We pinpoint experimental evidence indicating the presence of Stoner magnetism in the Jain states surrounding $\nu=1/2$.