IonQ, Inc. IONQ shares rose on Wednesday following NVIDIA Corp’s announcement of its first Quantum Day, scheduled for March 20 during GTC 2025.
This news comes shortly after CEO Jensen Huang mentioned that practical quantum computing could still take up to two decades to materialize.
Additionally, the announcement coincides with Microsoft Corporation’s pledge to make its business clients “quantum-ready” by 2025.
Meanwhile, IonQ announced a partnership with the University of Maryland and the State of Maryland to establish the region as the “Capital of Quantum.”
This initiative aims to catalyze over $1 billion in investments and transform Maryland into a leading hub for quantum computing innovation, according to a press release.
As part of the plan, IonQ will anchor a state-of-the-art quantum intelligence campus at the University of Maryland at College Park, subject to available incentives and budget approval.
The company also plans to expand its corporate headquarters into a 100,000-square-foot facility in the Discovery District, creating new jobs in engineering, applied physics, and operations.
The partnership focuses on advancing quantum computing and networking technologies.
IonQ will also collaborate with the University of Maryland to develop educational resources for high school students, introducing them to quantum technologies.
Governor Wes Moore emphasized that investing in quantum computing is key to Maryland’s economic development and technological leadership.
Price Action: IONQ shares are trading higher by 31.2% to $38.72 at last check Wednesday.
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