Investor excitement from recent announcements spills over into Thursday.
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The Archer Materials Ltd (ASX: AXE) share price ascended to new heights on Thursday.
As the semiconductor company has not posted any announcements today, it appears investors are still flying high on recent exuberance.
The Archer Materials share price closed today’s session at $2.17, up 16.04%.
In late afternoon trading, the shares touched $2.20, cementing a new all-time high for the stock.
Patents produce investor positivity
Investors bought Archer shares today despite no new announcements. That leaves us looking squarely at the last two days of back-to-back patent grants for the semiconductor company.
On Tuesday, Archer revealed it had been granted a South Korean patent for its CQ quantum computing chip.
The patent is a milestone and a significant step in validating the company’s technology. The Archer Materials share price launched 13.3% higher on this news.
Adding to the excitement, Archer also announced yesterday that it had been granted a Chinese patent for its CQ chip.
The company stated that the patent is a requirement in China for any future commercial operations in the jurisdiction.
With one patent under its belt, Archer can now proceed with its endeavours in the qubit computing space in China.
Commenting on the recent news, Archer CEO Dr Mohammad Choucair said:
Archer’s quantum computing chip IP is now protected in China – the largest market in the world, a major global economy, and powerhouse consumer of mobile technology. The grant of a patent in China further protects, validates, and substantially de-risks, our unique technology.
To realise the full commercial benefits of the 12CQ technology globally, Archer’s IP strategy includes patent protection in China. This is in line with the key commercialisation activities of the biggest semiconductor chip manufacturers from the US, EU, and Asia.
Archer Materials share price snapshot
The Archer Materials share price has had a monstrous run over the past year and is up 382%.
Momentum with the Archer Materials share price began to pick up in July. This coincided with the first indication of on-chip qubit control from the company.
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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.