- Materials technology company Archer Materials (AXE) has teamed up with IBM to advance quantum computing
- As part of the agreement, Archer will become a member of the IBM Q Network and is the first Australian company to join the invitation-only group
- IBM staff will work directly with the Archer team, who will have access to IBM’s quantum computing expertise and resources
- Archer is currently working on developing its CQ chip, which is used in quantum computing
- Archer is up 81.1 per cent on the market this morning, selling shares for 33.5 cents each
Materials technology company Archer Materials (AXE) has teamed up with International Business Machines Corporation (IBM) to advance quantum computing.
IBM is a computer hardware company and is well known around the globe.
As part of the agreement, Archer will be a member of the IBM Q Network and is the first Australian company to join the invitation-only group.
IBM staff will work directly with the Archer team, who will have access to IBM’s quantum computing expertise and resources.
“We are the first Australian company building a quantum chip to join into the global IBM Q Network as an ecosystem partner, a group of the very best organisations at the forefront of quantum computing,” Archer CEO Dr Mohammad Choucair said.
“Ultimately, we want Australian businesses and consumers to be one of the first beneficiaries of this exciting technology, and now that we are collaborating with IBM, it greatly increases our chances of success,” he added.
What is quantum computing?
Quantum computing is focused on developing computer technologies based on quantum theory. Quantum theory explains the nature and behaviour of energy and matter on the quantum (the atomic and subatomic) level.
Quantum computing uses a combination of parts to perform normal computational tasks, but at a much higher efficiency than classical computers.
Quantum Computing Market
Australia is a significant part of the growing quantum computing economy. Archer is one of the few companies globally that allows investors an opportunity to invest in quantum computing.
Archer’s CQ chip is a disruptive quantum computing technology and is currently in the stage of development. The company intends to develop the CQ chip to be directly sold and to achieve intellectual property rights to the chip technology.
Mohammad has said this agreement will help strengthen quantum computing in Australia.
“The agreement with IBM is a realisation of the substantial progress Archer has made to date. We are now in a better position to potentially scale our competitive advantage globally,” he told the market.
“The quantum computing economy is rapidly growing, complex, and has the potential to impact all sectors dependent on computational power. First-movers are therefore in the best position to seize the lion’s share of the total value generated in this multibillion-dollar industry,” he added.
Archer is up 81.1 per cent on the market this morning, selling shares for 33.5 cents each at 10:50 am AEST.