What's Going On With IonQ Shares Monday?

Zinger Key Points

IonQ partners with AstraZeneca, AWS, and NVIDIA to develop a quantum-accelerated workflow for pharmaceutical research.
The company reports a more than 20x speedup in processing time, reducing complex drug development simulations from months to days.
Get the Strategy to Trade Pre-Fed Setups and Post-Fed Swings—Live With Chris Capre on Wednesday, June 11.

IonQ, Inc. IONQ shares traded higher Monday after the company announced results of a collaborative research program with AstraZeneca PLC AZN, Amazon Web Services and NVIDIA Corp NVDA to develop and demonstrate a quantum-accelerated computational chemistry workflow.

What To Know: IonQ said the partnership delivered over a 20x speed improvement compared to previous methods used in early-stage drug development research. The project integrated IonQ's quantum computing hardware with AWS and Nvidia platforms to reduce processing time from months to days.

The company said this marks its most complex demonstration to date and highlights the potential for quantum computing to accelerate pharmaceutical research.

"This demonstration with AstraZeneca represents a meaningful step toward practical quantum computing applications," said IonQ CEO Niccolo de Masi.

IONQ Price Action: IonQ stock closed Monday 2.67% higher at $40.06, according to data from Benzinga Pro.

Image via Shutterstock