One of Australia’s most watched chip developers, Archer Materials (ASX: AXE), has joined forces with semiconductor manufacturer GlobalFoundries to advance its quantum chip technology.
The two companies will be working in partnership to develop Archers’ ¹²CQ quantum chip technology and scale up manufacturing. Archer will be utilising GlobalFoundries’ facilities and production processes to explore the potential of high-volume manufacturing of ¹²CQ Chip devices and components to one day be able to operate at room temperature within a mobile device.
Unlike generic computing chips produced at scale in well-established facilities, quantum computing chip manufacturing relies solely on custom-made production methods. By adopting similar manufacturing methods used to create traditional computer chips, Archer can significantly advance its current form of quantum chip fabrication.
GlobalFoundries is a world-leading semiconductor manufacturer that has refined its processes and abilities to meet massive demand from its global customer base. Archer commenced working with the Company specifically in order to integrate their chip technology to be compatible with mobile devices, where GlobalFoundries will assist with circuit design, technology development, and allow them to produce at scale.
“Archer is now positioned to leverage the expertise and capabilities of a tier-one semiconductor manufacturer to accelerate the development of the ¹²CQ quantum computing chip technology,” said Archer CEO, Dr Mohammad Choucair.
There is a vast difference between traditional computers and quantum computers. A regular computer, or any ‘smart’ technology for that matter, uses semiconductors and transistors to process binary information that is either represented as a ‘1’ or ‘0’. Quantum computers on the other hand, use qubits which allows for information to be represented as both 0 and 1 simultaneously, adding a whole new dimension for problem solving speeds and capabilities.
Archer is seeking to harness this power and make the technology commercially available to operate in mobile devices. But here’s the catch, for a quantum computer to operate at peak performance, it needs its core temperature scaled down to near absolute 0, or about -273°C, which Archer has been striving to overcome by developing a quantum computer that can operate at room temperature.
Included in the most financial report for Fy22, Archer reported that they have cash in the bank of over $28.7 million – this is partly in thanks to a capital raise completed last year where the Company received over $25.4 million via a Share Purchase Plan at an Offer Price of $1.45 per share, massively overshooting the targeted $5 million. Whilst in the same reporting period, posted a net loss for the period of $14.1 million, more than doubling its loss from the year prior of $6.6 million.
It was only a few years ago in 2019 when AXE shares were trading below $0.10 before rallying to an all-time high of $3.08 in August 2021 and has since tracked mostly lower to sit on $0.80 at the time of writing.
Trading Desk Assistant at Emerald Financial
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