How IonQ Stock Gained 18% Last Month
Shares of IonQ (NYSE: IONQ) rose 17.8% in September 2024, according to data from S&P Global Market Intelligence. The quantum computing pioneer was having a quiet month for the most part, but its stock chart skyrocketed on potentially game-changing news in the last week. That's where IonQ signed a substantial contract with the U.S. Air Force Research Lab (AFRL).
The AFRL deal is a four-year agreement worth $54.5 million. It's IonQ's largest contract of 2024, bringing the year-to-date order bookings to a total of $72.8 million.
The company will collaborate with the AFRL to make quantum computing more scalable and easier to deploy. Quantum computing systems are fundamentally different from digital computers, making it difficult to integrate quantum systems with the existing digital infrastructure. In particular, the two organizations will address compatibility with current networking infrastructure.
Source Fool.com
