No new results on key hardware technology development covering qubit-stability, integration or practicality of the current approximately 50 qubits machines from companies around the world were presented that undermined Archer’s 12CQ chip development. We are confident in the progress of our commercial plan and as a result, we were able to initiate ongoing discussions with Critical Support Technologies, Full-Service Providers, and Software Companies, and organisations to expand our infrastructure access in North America.
It was clear that the quantum computing economy has ‘gone beyond the lab’, and a strong focus has emerged on the type of industry problems to address with quantum computing and how best to do this. No company has been able to demonstrate ‘quantum supremacy’ yet. Google was absent from the Conference, and we are now seeing some media speculation with claims of Google achieving such a feat, however, such claims are not new, with D-Wave also announcing ‘supremacy’ back in 2015.
It is important to note that even a successful demonstration of quantum supremacy has no negative impact on Archer’s 12CQ chip development and does not diminish our key value proposition that aims at facilitating widespread quantum computing powered technology ownership. Achieving quantum supremacy demonstrates that quantum computers could solve computationally hard problems that are useful to solve, many times faster than existing computers, which would be good news for the quantum computing economy in general.
Chinese companies, Alibaba and Tencent, focused exclusively on algorithms and quantum software development. Intellectual property is a valuable asset in the quantum computing economy as the industry is not conducive to ‘fast followers’. High-profile companies in various industries were safeguarding, futureproofing and expanding their Information Technology infrastructure, security, and product offerings now with quantum computing IP as it is extremely difficult to quickly set up and enter the market. Archer’s exclusively licenced 12CQ chip IP recently advanced to the national phase of a PCT application in the US, China, Japan, Republic of Korea, Australia, Hong Kong, and European Union, and we remain in a strong position.
Notable investors Morgan Stanley, Prelude Ventures, WorldQuant Ventures and The Engine, revealed that their view of all areas in quantum computing remained high-risk, primarily due to what they perceived as fundamental uncertainties around timelines to the establishment of specific market sizes and competitive differentiation. This view was counterbalanced with the consideration of strong technological advances over the last few years, the enormous investments by tech companies, and strong government support.
Despite the caution taken around the immediate business potential of quantum computing, news of a major announcement by IBM (a deal worth US$717 million over 2 years backed by the German Government) towards the Conference conclusion, left an aura of inevitability: quantum computing was likely to have a revolutionary global impact emerging from the NISQ era (Noisy Intermediate State Quantum) to a full quantum computing future.
After discussions with Dr Philipp Gerbert (Managing Director, Boston Consulting Group), I would like to direct shareholders to in-depth reports on the quantumcomputing sector that BCG has provided for free: We are pleased to inform shareholders that from the success of the attendance to the Conference we are currently engaged in discussions with the Conference organisers to present and exhibit at the next event to be held in London during April 2020.
We look forward to updating you with exciting news in the coming editions, with commentary and contributions from Archer staff.
Yours sincerely,
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Exploration Limited |
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