I’m not sure what’s harder- wrapping your head around what Archer Material’s (ASX: AXE) does, or comprehending the value of the market that they are tapping into. A market which currently sits at a whopping USD $400 billion per annum, and is forecast to reach over USD $1 trillion by 2030.

Have I got your attention?

Archer Materials is a tech company that uses innovative materials (namely graphene) to build processor chips that can perform quantum computing. They aim to address global challenges in quantum, technology, human health and reliable energy. All noble pursuits, but how exactly are they doing this?

The Company has today released a technical progress update on their 12CQ quantum computing processor chip.

If you’re like me and the word ‘quantum’ makes you want to close the tab and return to browsing Instagram, and the only ‘chip’ you’re interested in is the one that’s salt and vinegar flavoured, wait! Don’t give up just yet, I’m going to (attempt to) explain…

Computer processing chips, or semiconductors, as they’re known in the industry, enable almost all technology applications. The Company is currently developing state of the art qubit control devices to integrate control electronics with their trademark 12CQ chip.

In essence, Quantum computers, by not being bound by the ‘1’s and 0’s’ limitations of regular computers are able to process tasks significantly faster. The main hurdle that this tech needs to overcome is that chips currently require tremendous power and very cold temperatures, which is where Archer comes in.

Archer’s latest chip development has progressed to utilising Electromagnetic Finite Element Modelling, a method used for solving differential equations that arise in engineering and mathematical modelling (thanks for that one Google). According to Archer, this is a key milestone in validating their chip’s viability.

Long, and very complex story short, they’re progressing with world domination.

Ok, maybe not yet but Archer’s CEO Dr Mohammad Choicair is excited that the Company has “the opportunity to account for qubit scalability early on, which is a key advantage over other qubit proposals.”

I think what makes Archer’s value proposition difficult to understand is the breadth of their tech’s applications. The technology they are developing has the potential to influence almost every industry and market that uses tech in some form.

Given the increasing reliance on computers, smartphones and machines, if Archer achieves what they are going for, their chips could potentially be in your pocket one day.