IonQ Shares Shoot Up After Securing $13.4M US Air Force Contract

Quantum computing company IonQ, Inc (NYSE:IONQ) won a $13.4 million contract to supply the U.S. Air Force Research Lab (AFRL) with access…
  • Quantum computing company IonQ, Inc (NYSE:IONQ) won a $13.4 million contract to supply the U.S. Air Force Research Lab (AFRL) with access to its trapped ion systems for quantum computing hardware R&D of quantum algorithms and applications.
  • Quantum computing, systems, and applications have the potential to help the U.S. Air Force protect both public and private infrastructure in the U. S.
  • The latest agreement marks IonQ’s latest commercialization milestone and represents a significant public-private partnership to invest in quantum computing.
  • IonQ included this agreement with AFRL in the previously identified late-stage opportunity in its booking forecast that was at risk of closing in 2022.
  • Outlook: In conjunction with the new contract win, IonQ reaffirmed its previous financial outlook, as stated in its quarterly earnings call.
  • Price Action: IONQ shares traded higher by 12.13% at $5.36 on the last check Friday.
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