Advanced materials developer Archer Materials Ltd [ASX:AXE] has watched its share price hit a fresh all-time high today after the company delivered a milestone in the development of its quantum computing technology.
At time of writing the AXE share price is up 22.50%, or 18 cents, to trade at 98 cents per share.
Source: Trading View
The AXE share price rose nearly 50% in one day last month after the company announced it had been granted a patent in Japan for its quantum computing processor technology.
Archer achieves transportation of a single qubit
One of AXE’s primary focuses is the development of its 12CQ quantum computing qubit processor chip technology.
If that terminology has gone over your head, just think of quantum computer like your own computer but much, much, much faster.
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However, these computers require very sophisticated parts, which are typically very expensive.
A problem that AXE is trying to solve.
In their announcement today, the materials developer said it had achieved a key technological milestone by successfully electronically transporting a single qubit at room temperature.
At a very simple level, you can think of a qubit as just a piece of electronic information.
Similar to the ‘bits’ our regular computers use.
CEO Dr Mohammad Choucair best articulates today’s milestone:
‘In building our 12CQ chip for room temperature operation and integration onboard electronic devices, we are pushing the boundaries of what can be done technologically in the world today. The importance of achieving electronic transport in a single qubit at room temperature cannot be overstated as it will have a positive and broad impact on the development of the 12CQ chip.
‘This is great news and direct technological validation for both the fabrication and operation of the 12CQ chip.’
Why is this important
Just as our home and work computers require a way to dissipate heat, quantum computers also need to be cooled to keep qubits cold enough to function.
A problem that quantum computing faces is that qubits must start in their low-temperature ground states to run an algorithm.
AXE’s achievement today has effectively removed the need for specialised cooling devices for quantum computers to work.
By allowing qubits to run at room temperature, AXE could enable direct consumer ownership of quantum computing-powered technology.
Obviously, I don’t need to specify what kind of value that could create for AXE.
And AXE isn’t the only ASX-listed company that has been providing value for its shareholders. In our free small-cap stock report we show you four innovative Aussie companies that are well placed to capitalise on post-lockdown megatrends. Click here to learn more.
Regards,
Lachlann Tierney,
For Money Morning
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