Abstract
Density functional calculations are used to investigate the doping dependence of the electronic structure and magnetic properties in hexagonal Na$_x$CoO$_2$. The electronic structure is found to be highly two dimensional, even without accounting for the structural changes associated with hydration. At the local spin density approximation level, a weak itinerant ferromagnetic state is predicted for all doping levels in the range $x=0.3$ to $x=0.7$, with competing but weaker itinerant antiferromagnetic solutions. The Fermi surface, as expected, consists of simple rounded hexagonal cylinders, with additional small pockets depending on the $c$ lattice parameter. Comparison with experiment implies substantial magnetic quantum fluctuations. Based on the Fermi surface size and the ferromagnetic tendency of this material,it is speculated that a triplet superconducting state analogous to that in Sr$_2$RuO$_4$ may exist here.
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