Why IonQ Stock Jumped 21% Today
On Friday morning, IonQ (NYSE: IONQ) announced that it had landed a new quantum computing contract from the U.S. Air Force Research Lab. In response, the market bid the stock sharply higher. As of 10:42 a.m. ET, it had soared by 21%.
The $54.5 million award will see IonQ partner with the Air Force Research Lab "to design, develop, and deliver technology and hardware that enables the scaling, networking, and deployability of quantum systems" over the next four years.
IonQ's press release was rather short on details about the contract, saying only that the Air Force Research Lab wants to integrate "quantum networking" with "existing telecommunications infrastructure," and also make quantum systems interoperable with each other. The company was much more specific on how the deal helps it out financially.
Source Fool.com
