Australia's Archer Materials hits 1-week high on chip development collaboration

Archer Materials

06/09/2022 02:08

** Shares of semiconductor chip maker Archer Materials
 AXE.AX  jump as much as 22.6% to A$0.89 - hits highest since
Aug. 30
    ** Co says it will work with semiconductor manufacturing
services provider GlobalFoundries Inc  GFS.O  to advance the
development of its CQ quantum chip technology  urn:newsml:reuters.com:*:nASXbxrhPh
    ** Adds that GFS will provide Archer with expertise,
equipment, and manufacturing processes to develop the CQ chip
    ** Stock sees best session since a week if gains hold 
    ** Stock has fallen 35.1% this year, as of last close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))