IonQ Shares Soar: The Company to Develop Quantum Systems for U.S. Air Force with $54.5M Contract

IonQ made an announcement on Friday morning announcing that the U.S. Air Force Research Lab has awarded it a new contract for quantum computing. The share price then began to rise rapidly. Over the next four years, IonQ and the Air Force Research Lab will collaborate to design, develop, and deliver hardware and software that facilitates the scaling, networking, and deployability of quantum systems thanks to a $54.5 million award.

IonQ Confident in Beating $75M Booking Target After Securing Major Air Force Deal

The only information provided in IonQ’s news release about the deal was that the Air Force Research Lab hopes to make quantum technologies interoperable with one another and integrate quantum networking with the current telecommunications infrastructure. Regarding the financial benefits of the deal, the business provided much more detail.

IonQ reported $72.8 million in bookings year to date with one quarter left in the fiscal year. The firm expressed confidence that it is on track to meet or surpass its guidance range of $75 million to $95 million for bookings in 2024. If it is successful, IonQ will have almost doubled its bookings over the previous year for the third consecutive year in 2024.

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