Abstract
Density functional studies of 26 K superconducting LaFeAs(O,F) are reported. We find a low carrier density, high density of states, N(EF), and modest phonon frequencies relative to Tc. The high N(EF) leads to proximity to itinerant magnetism, with competing ferromagnetic and antiferromagnetic fluctuations and the balance between these controlled by the doping level. Thus LaFeAs(O,F) is in a unique class of high Tc superconductors: high N(EF) ionic metals near magnetism.