IonQ, Inc. IONQ shares are trading higher after the company announced a $25.5 million quantum deal with the U.S. Air Force Research Lab.
What To Know: The aim of the expanded relationship is to deploy two barium-based trapped ion quantum computing systems for quantum networking research and application development. It follows the deal announced one year ago between the two organizations to offer access to the company's trapped ion systems.
The deal is another indication of the IonQ's recent success in bookings, with the company reaching a record-setting $28 million in bookings in the second-quarter.
"AFRL is seeing incredible achievements on trapped ion quantum systems to enable and grow US quantum technology, the innovation occurring on the frontlines by industry will bring revolutionary technologies to our warfighters," said Michael Hayduk, Deputy Director, Air Force Research Laboratory, Information Directorate.
Related Link: Amazon Web Services Now Offers Generative AI Tools For Businesses, Catches Up With Microsoft Azure, Google Cloud
IONQ Price Action: Shares of IONQ were up 8.71% at $15.48 at the time of publication, according to Benzinga Pro.
Image by Vicki Hamilton from Pixabay
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