Quantum Leap: Amazon unveils $36.7M stake in IonQ

Welcome to the latest edition of “Quantum Leap” where The Fly decodes news and activity in the quantum computing space. 

AMAZON STAKE: Amazon.com (AMZN) disclosed to the SEC its stock holdings as of June 30, which included owning 854,207 shares of IonQ (IONQ), a stake valued around $36.7M. Shares of IonQ were up 4%, or $1.75, to $43.77 in after-hours trading on Tuesday.

ASIA DISTRIBUTION PACTS: Quantum (QMCO) announced the strategic expansion of its distribution model across the technology markets of China, India, and the ASEAN region. This expansion is designed to meet increasing demand for advanced data protection and management solutions, particularly as the growth of AI, machine learning, and unstructured data reshapes how organizations operate. Quantum has entered into exclusive distribution agreements with four regional companies: ChangHong IT in China, Rashi Peripherals in India, Hibino Graphics in Taiwan and ACA Pacific in ASEAN. “This move marks a pivotal chapter in Quantum’s APAC strategy,” said Rob Hilligoss, head of APAC sales for Quantum. “By aligning more deeply with trusted, long-term partners, we are accelerating our ability to deliver transformative data solutions at scale, across industries and borders. Our focus remains on customer experience, maintaining the highest service quality, and seizing the mounting growth opportunities in data-driven markets.”

CHIP MILESTONE: Sealsq (LAES) announced that the company has secured over 1.75B devices worldwide. The company said, “SEALSQ Corp celebrates 26 years of innovation since its founding in 1999, having secured over 1.75 billion devices worldwide with its secure chips since its inception. This milestone reaffirms SEALSQ’s position as a trusted cybersecurity provider and highlights its emergence as a leading player in the semiconductor space with a growing portfolio of quantum-resistant chips, including the QS7001 open hardware platform and the QVault TPM Lite scheduled to be certified in May 2026. Today, SEALSQ also shared an update on the certification roadmap for its post-quantum (PQ) chips, reinforcing its leadership in future-proof security.”

COMMERCE DEPARTMENT CONTRACT: Quantum Computing (QUBT) has been awarded a contract by the National Institute of Standards and Technology, or NIST, part of the U.S. Department of Commerce, for the design and fabrication of thin-film lithium niobate photonic integrated circuits. In addition, the company has received a chip order from a Fortune 500 science and technology company that provides advanced solutions across defense, intelligence, civil, and commercial markets. This is QCi’s first direct government contract for its TFLN foundry services. The period of performance runs from June 16 through April 15, 2026. The project scope includes design support and fabrication of TFLN-based PICs, with performance requirements focused on low optical-loss waveguides, high-performance modulators, and narrow-band filters.

GRID OPTIMIZATION: IonQ announced a new achievement in applying quantum technology to energy grid optimization challenges. Through a collaborative partnership between IonQ, Oak Ridge National Laboratory and the U.S. Department of Energy, the team has successfully demonstrated that its hybrid quantum-classical computing approach can address the Unit Commitment problem, a critical task for power grid operators. The unit commitment problem involves determining the optimal schedule for power generators to meet electricity demand at minimal cost. This task becomes increasingly complex as power systems scale and generate more energy using dispatchable energy resources and intermittent sources such as solar and wind. IonQ and ORNL developed a hybrid approach that combines IonQ’s 36-qubit Forte Enterprise quantum computing with classical computing. Using this hybrid approach, the team found varied solutions for power generation scheduling across 24 time periods and 26 generators.

ANALYST COMMENTARY: Stifel initiated coverage of D-Wave Quantum (QBTS) with a Buy rating and $26 price target. The firm calls D-Wave “a pioneering quantum computing company” as well as the first to deliver commercial quantum annealing systems. Management says that the company is funded sufficiently to reach profitability, notes the analyst, who believes that the quantum computing market is on track to grow into a $10Bmarket by 2030 and applies “a base case assumption” of 15% market share for D-Wave.

Needham made the following price target changes:

• Raised its price target on Rigetti Computing (RGTI) to $18 from $15 and keeps a Buy rating on the shares
• Increased its price target on D-Wave Quantum to $20 from $13 and keeps a Buy rating on the shares
• Elevated its price target on IonQ to $60 from $50 and keeps a Buy rating on the shares

Momentum in the quantum computing industry has continued to build since Needham’s last industry report published on January 27, the analyst told investors in a research note. Needham believes DARPA’s Quantum Benchmarking Initiative and progress in Congress of the Department of Energy Quantum Leadership Act in 2025 are two key items to watch. Should the bill be signed into law, the firm expects a significant increase in U.S. government funding for quantum computing research.