IonQ, Inc. (IONQ) said it has reached a key step in its plan to scale quantum systems, as the company works with U.S. defense groups to build networked machines. As a result, IONQ shares jumped about 20% on Tuesday, taking the momentum to Wednesday’s pre-market trading, where they’re already up about 6%.
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The firm said it has linked two separate quantum systems using light, enabling them to share data at a distance. This is the first time the company has shown this kind of link between two of its own commercial systems.
Chief Executive Officer Niccolo de Masi said, “Achieving this photonic interconnect milestone is a pivotal moment in our roadmap as we move from individual quantum processors to distributed, networked architectures.”
As of today, most quantum systems run as a single unit. However, IonQ is now testing a way to connect smaller systems into a larger network. This could help the firm scale power over time without relying on one large machine. That is a key step if the firm wants to build systems that work across longer distances.
DARPA Contract Expands Role in Quantum Networking
In a related update, IonQ said it won a contract under a U.S. Defense Advanced Research Projects Agency (DARPA) program known as HARQ. This effort aims to link different types of quantum systems into one network.
While IonQ uses trapped-ion systems, other firms rely on different technologies. The goal of the program is to connect these systems so they can work together.
De Masi added, “IonQ’s pioneering quantum interconnect technology can enable modular scalability not only for ion traps, but for a wide range of quantum technologies.”
As part of this work, IonQ will focus on its quantum memory chips. These are made from synthetic diamond and help store and move quantum data between systems. The firm said these chips are built for use in both data centers and long-range networks.
Notably, this contract builds on IonQ’s past work with U.S. agencies. The company has also moved forward in DARPA’s testing program and launched a federal unit to handle defense work.
Is IONQ a Good Stock to Buy?
On the Street, IonQ Inc. has a Strong Buy consensus, based on 12 analysts’ ratings. The average IONQ stock price target is $65.91, implying an 84.31% upside from the current price.
