Archer Materials (ASX:AXE) share price leaps 12% on 'major technical feat'

Quantum computing is the flavour in the Archer camp today.

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A businessman holding a briefcase jumps into the sky celebrating the rising share price.

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Key points

  • The Archer Materials share price soared by 12% today
  • This came after the company advised of a significant technological achievement
  • Archer Materials is one of only a few companies globally developing qubit processor chip technology in the semiconductor industry

The Archer Materials Ltd (ASX: AXE) share price spiked well into the green today and finished trading 12% higher at $1.21.

Investors piled into Archer Materials following a company announcement about its mobile compatible chip technology.

Market participants crowded into Archer on a volume 340% higher than its 4-week trading average. Let's take a look.

Archer detects quantum information using mobile chip tech

The Archer Materials share price soared today after the company advised it has reached a "major technical feat" in its 12CQ quantum chip development using mobile compatible chip technology.

Archer used the mobile chip technology to detect quantum information at room temperature and in a controlled environment.

The advancement is seen as a huge win in quantum computing circles as it paves the way to implement "complex qubit control". This, Archer says, is "a fundamental requirement for quantum computing processor chips to operate".

"High electron mobility transistor (HEMT) technology was used to detect and characterise the 12CQ qubit material," the company notes. HEMT devices are used widely in integrated circuits – such as in mobile phones – and are known in the semiconductor industry for low power consumption.

As a result, the company and its associates have now used a single-chip integrated electron spin resonance (ESR) detector based on HEMT technology to "detect and characterise qubit material in a controlled atmosphere at room temperature".

"Unoptimised" ESR chip devices were sensitive enough to detect the electron spin in a few picolitres of qubit material at room temperature. For reference, 1 picolitre is a trillionth of a litre.

From its observations, Archer and colleagues found the quantum states were sufficiently well preserved when operating in an on-chip environment.

Archer Materials also notes it is the only ASX listed company – and one of a few companies globally – developing qubit processor chip technology in the semiconductor industry.

Management commentary

Speaking on the update that fuelled the Archer Materials share price today, CEO Dr Mohammad Choucair said:

Archer's 12CQ chip development is unique as we have the potential to enable quantum powered mobile devices. Our technology advance provides direct proof to support this exciting possibility. HEMT technology is well established and widely used in the semiconductor industry, so its use in the development of qubit control devices is consistent with the company's strategy to make the 12CQ chip compatible with modern electronics.

Archer Materials share price snapshot

In the last 12 months, the Archer Materials share price has soared by more than 69%. It has also climbed 7.5% this year to date.

It has substantially outperformed the benchmark S&P/ASX 200 Index (ASX: XJO) in that time, as shown on the chart below.

TradingView Chart

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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