/Archer Materials Ltd shares rise after signing quantum computing agreement with IBM (via Qpute.com)
Archer Materials Ltd shares rise after signing quantum computing agreement with IBM

Archer Materials Ltd shares rise after signing quantum computing agreement with IBM (via Qpute.com)


Archer is building a world-first qubit processor technology for quantum computing operation that could potentially operate at room temperature and integrate into modern electronics.

’s () () (FRA:38A) shares are trading about 5% higher intra-day after executing a new quantum computing agreement with International Business Machines Corporation ().

As part of the new agreement between Archer and IBM, Archer retains membership to the global IBM Quantum Network and the associated IBM Quantum Startup Program.

The new agreement also gives Archer the opportunity to progress the work initiated under its previous agreement with IBM.

Access to the most advanced quantum computers

Archer is one of the first Australian companies developing quantum computing technology to have joined the invitation-only, IBM Quantum Network.

The company is building the 12CQ chip, a world-first qubit processor technology for quantum computing operation that could potentially operate at room temperature and integrate into modern electronics.

Archer will continue to have access to IBM’s quantum computing expertise and resources, and open-source Qiskit software and developer tools.

IBM will also provide Archer access to the IBM Quantum Computation Center, which includes the most advanced quantum computers commercially available to explore practical end-user applications.

Enabling practical quantum computing applications

Archer CEO Dr Mohammad Choucair said: “We are at an early stage in terms of the work that needs to be done with IBM, so we are looking forward to our continued collaboration.

“When we see what has been achieved in the quantum ecosystem to date, we are determined to actively engaging in, and contributing to, the global IBM Quantum Network.

“Archer is making crucial steps towards its goal of enabling practical quantum computing applications, and IBM is helping us get there.”


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