The Archer Materials Ltd [ASX:AXE] share price is trading 5.56% higher at time of writing.
This quantum computing small-cap is once again making headway with its novel tech. Announcing a new collaboration with a like-minded company.
Let’s dig into the details…
Another partnership, another step forward
If you’re familiar with Archer, you’ll know that the company exploded onto the scene when it tied the knot with IBM.
That news announced back in May, was the catalyst for a huge share price run-up. Cementing Archer as one of the few quantum computing stocks in the world, let alone in Australia.
Since then, Archer has been steadily progressing. Working on their in-house quantum chips and partnering with other ventures.
Today, they have landed yet another key agreement. Teaming up with fellow IBM Q Network member: Max Kelsen. An AI firm based out of Brisbane that is looking to become a leading machine learning software developer.
Together both companies are hoping to leverage IBM’s open source quantum framework, Qiskit. In the hopes of producing practical algorithms for quantum computing applications.
As Archer’s CEO, Dr Mohammad Choucair comments:
‘As part of Archer’s forward looking strategy, the partnership with Max Kelsen — a leading AI and Quantum Computing firm – is a key step forward in the commercialisation of our CQ chip technology.
‘It’s a great example of how two Australian IBM Q Network Members are working together to realise the commercial potential of quantum computing.
‘We will use IBM’s Qiskit and quantum machines to validate our work, and once validated, Archer intends to apply the end-user cases, algorithms and Qiskit to CQ chip hardware, which demonstrates the increasing value our partnerships bring as we progress in our development.’
For shareholders, that progress has certainly been exciting. Delivering some incredible returns to date, and the possibility of much more to come.
What’s next for Archer?
Now the only question that remains is how Archer’s development will pan out.
This CQ chip seemingly has a lot of resources behind it. All they need to do is validate it, refine it and prove it has commercial value. Objectives that should become clearer and achievable in time.
That makes this stock a speculators dream. With the potential for huge upside, but with a whole lot of risk too. After all, no one really knows how viable quantum computing will be, let alone Archer’s chip.
Nevertheless, it’s an exciting story. One that has certainly captivated the market. Which is often the case when it comes to cutting-edge technology.
And if you’re looking for similar stocks on the ASX, then we recommend checking out our AI stocks report. A handy guide to some of the more promising companies in this emerging tech field.
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For Money Morning