What's Going On With IonQ Stock?

IonQ Inc IONQ shares are trading higher Thursday. The company announced that it achieved a technical milestone a year ahead of schedule.

What To Know: Quantum computing company IonQ said it hit its technical milestone target of 35 algorithmic qubits on IonQ Forte one year before it expected to.

At 35 algorithmic qubits, IonQ’s systems will be better able to tackle quantum applications, such as those in quantum machine learning and quantum chemistry, the company said.

“Achieving our 2024 technical performance milestone a year early furthers IonQ’s technical leadership in developing the world’s most powerful and accurate commercially available quantum systems,” said Peter Chapman, president and CEO of IonQ.

“IonQ is building quantum computing systems that can deliver value to our customers by successfully executing the applications they care about. Each year, we are aggressively delivering against our roadmap and our goal of driving large-scale commercial quantum adoption.”

IonQ noted that some international organizations including QuantumBasel have already purchased the 35 algorithmic qubit capable system.

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IONQ Price Action: IonQ shares were up 2.01% at $11.30 at the time of publication, according to Benzinga Pro.

Photo: courtesy of IonQ.