- Archer Materials (AXE) spikes in early trading action after landing a US patent for its 12CQ quantum computing chip technology
- The company says the patent is the “most significant” early-stage commercialisation milestone for its quantum tech
- The patent protects Archer’s intellectual property (IP) relating to the chip across the US, which Archer says is a critical strategic jurisdiction
- CEO Mohammad Choucair says most of the global investment into R&D, innovation, and commercialisation in quantum computing comes from the US
- Shares in Archer Materials are up 13.37 per cent and trading at $2.27 each at 10:30 am AEST
Quantum computing specialist Archer Materials (AXE) has spiked in early trading action after landing a US patent for its 12CQ quantum computing chip technology.
Archer said the patent represented the “most significant” early-stage commercialisation milestone for the business as the company continues to develop the chip.
The patent protects Archer’s intellectual property (IP) relating to the chip across the US, which Archer said was a critical strategic jurisdiction for the company.
Archer CEO Mohammad Choucair said most of the global investment into research and development, innovation, and commercialisation in quantum computing comes from the US.
“The company has achieved a major early-stage commercialisation milestone with the granting of the US patent,” Mr Choucair said.
“The 12CQ chip Archer is developing is an entirely new technology in the semiconductor industry that could potentially allow for the future operation of practical quantum computing devices.
“Archer is one of few companies with a patent portfolio protecting quantum computing chip technology and one with a unique global competitive advantage.”
Archer said the patent grant is particularly pertinent in light of the recent AUKUS deal struck between Australia, the UK, and the US. The company said quantum technologies were one of the focuses of the deal.
What is quantum computing?
Essentially, quantum computing is being developed as the next generation of supercomputers.
The technology behind quantum computing is complicated and the tech developers leading the charge in the quantum computing realm are somewhat vague about how it actually works.
Nevertheless, quantum computers are designed to run hundreds of thousands of times faster than the fastest computers available today.
The issue with quantum computers, however, is that they need extreme cooling to function and subsequently cannot run at room temperature or be integrated into other conventional technologies.
This is where Archer’s 12CQ qubit processor chip comes in. The company claims the chip can be used at room temperature to provide a breakthrough solution to the world of quantum computer tech.
Shares in Archer Materials were up 13.37 per cent and trading at $2.27 each at 10:30 am AEST. The company has a $517 million market cap.