What's Going On With IonQ Stock Today?

IonQ, Inc. IONQ shares saw modest gains in premarket trading on Wednesday following the company’s announcement of its involvement in a major South Korean quantum computing initiative.

The U.S.-based quantum computing firm has been selected as the core technology provider for a newly funded national project led by the Korea Institute of Science and Technology Information, or KISTI, aimed at developing the country’s first Quantum Computing Center of Excellence.

The multi-million-dollar effort, part of the “Quantum Computing Service and Utilization System Construction Project,” will involve building an advanced quantum computing infrastructure to support both academic and commercial research.

Also Read: Quantum Stock Watch: Bullish Analyst Coverage On IonQ, D-Wave, Rigetti Computing

KISTI selected IonQ to supply a 100-qubit system for the project, collaborating with Megazone Cloud, a leading South Korean cloud services provider.

Niccolo de Masi, CEO of IonQ, said the company is honored to help KISTI bring world-class quantum capabilities to South Korea.

He emphasized the project’s significance as a long-term investment in the nation’s research and innovation ecosystem.

KISTI president Sik Lee highlighted the partnership as a means of enhancing the country’s operational experience with quantum systems and contributing to the development of its quantum technology industry.

The initiative is expected to deliver a hybrid quantum-classical computing environment accessible through a secure private cloud, enabling remote quantum computing capabilities for South Korean institutions.

This announcement builds on IonQ’s prior collaborations in the region, including a memorandum of understanding with KISTI and partnerships with organizations such as Hyundai, SK Telecom, Intellian Technologies, as well as academic institutions like Seoul National University and Sungkyunkwan University.

IonQ’s current product lineup includes high-performance systems, such as the Forte and Forte Enterprise.

The company is aiming to scale its technology to deliver systems with up to 2 million qubits by 2030, targeting critical sectors such as drug development, cybersecurity, logistics, and defense.

Price Action: ALVO shares are trading higher by 2.16% to $ 9.00 premarket at last check on Wednesday.

Read Next: