We investigate, using a first-principles density-functional methodology, the nature of magnetism in monolayer $1T$-phase of tantalum disulfide ($1T$-TaS$_2$ ). Magnetism in the insulating phase of TaS$_2$ is a longstanding puzzle and has led to a variety of theoretical proposals including notably the realization of a two-dimensional quantum-spin-liquid phase. By means of non-collinear spin calculations, we derive $textit{ab initio}$ spin Hamiltonians including two-spin bilinear Heisenberg exchange, as well as biquadratic and four-spin ring-exchange couplings. We find that both quadratic and quartic interactions are consistently ferromagnetic, for all the functionals considered. Relativistic calculations predict substantial magnetocrystalline anisotropy. Altogether, our results suggest that this material may realize an easy-plane XXZ quantum ferromagnet with large anisotropy.
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