IonQ, Inc. (IONQ) is moving into quantum network tech with a new deal in Florida aimed at building a secure data system.
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The company said it signed an agreement with Florida LambdaRail, a statewide fiber network group, to help create a quantum-safe network across the state. The first phase will build a nearly 100-mile link between three research sites from Palm Beach to Miami.
Meanwhile, IONQ shares rose 2.69% on Monday, closing at $43.84. However, the stock dropped by more than 3% in pre-market trading.
Focus on Quantum Security
The system will use quantum key tech, which can detect any attempt to access data. This type of system is seen as a way to protect data from future risks as AI and quantum tools evolve.
IonQ CEO Niccolo de Masi said the move supports a wider plan. “Creating a statewide quantum network in Florida will mark another major milestone in the deployment of IonQ’s global quantum platform,” he said.
The project will run on Florida LambdaRail’s existing fiber system, which connects schools and public groups across the state. This allows the network to move into real use rather than stay in test mode.
Over time, the group plans to expand the network to additional sites across Florida, subject to funding and partner support.
Is IONQ a Good Stock to Buy?
On the Street, IonQ Inc. has a Strong Buy consensus, based on 13 analysts’ ratings. The average IONQ stock price target is $65, implying a 48.27% upside from the current price.
