Archer Materials Advances Quantum Program; Shares Up 5%

MT Newswires Live

Feb 12

Archer Materials (ASX:AXE) said it is targeting the delivery of working quantum-enabled prototypes from this year to 2027, supported by global partners across materials, devices, software, and sensing, according to a Thursday Australian bourse filing.

The company said its quantum machine learning program with Csiro is progressing on schedule, with initial results expected mid-year.

Archer said it has demonstrated cryogenic tunnel magnetoresistance sensor performance and is engaging with potential customers and partners.

The company added that it is in the process of building a scalable quantum ecosystem around its 12CQ platform.

The company's shares rose almost 5% in recent Thursday trade.

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