Zinger Key Points
- IonQ partners with Busan, South Korea, to promote quantum computing and foster talent development in the region.
- IonQ stock has surged over 260% over the past year, with continued expansion through global partnerships like this one.
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IonQ, Inc. IONQ is expanding its global reach through a new partnership with the Busan Metropolitan Government in South Korea.
The agreement, formalized through a memorandum of understanding, focuses on advancing quantum technology and fostering talent development in the region.
According to Benzinga Pro, IONQ stock has gained over 260% in the past year. Investors can gain exposure to the stock via Spear Alpha ETF SPRX.
Busan, South Korea’s second-largest city and a key technology and economic hub, will collaborate with IonQ to promote quantum computing, build a robust ecosystem for the technology, and drive economic growth.
As part of the deal, IonQ will provide quantum computing cloud services and support the planning and execution of joint quantum initiatives.
The company will also contribute to workforce development, which is expected to further strengthen South Korea’s position in the global quantum computing space.
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In return, the Busan Metropolitan Government will create an environment that nurtures the growth of the quantum technology sector, offering the infrastructure and support needed for success.
IonQ President and CEO Peter Chapman also highlighted the shared vision of driving innovation and creating opportunities for economic and scientific growth.
“We are excited to collaborate with Mayor Heong-joon and the Busan Metropolitan City to not only advance quantum computing but also continue to lay the foundation for economic and scientific opportunities in Korea,” Chapman stated.
This partnership builds on IonQ’s established presence in South Korea, with previous collaborations involving major institutions like Hyundai Motors, Sungkyunkwan University, and Seoul National University.
Recently, IonQ forged a significant partnership with the University of Maryland and the State of Maryland, working to position the state as a “Capital of Quantum,” with plans for over $1 billion in investments to boost quantum computing innovation.
Price Action: IONQ shares are trading higher by 1.25% to $42.57 at last check Thursday.
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