IonQ ends higher as company, Maryland unveil $1B quantum initiative
Jan. 14, 2025 4:12 PM ET
By: Chris Ciaccia, SA News Editor
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IonQ (NYSE: IONQ) shares ended more than 6% higher on Tuesday after the company and the state of Maryland unveiled a $1B initiative to make the state the home of quantum computing.
As part of the announcement, IonQ said it will enlarge its headquarters into a 100,000 sq. foot facility, with a data center, laboratories and office space at the University of Maryland. The company also plans to double the number of employees at its headquarters to at least 250 people in the Maryland region, over the next five years, once the deal has been approved by the Maryland legislature.
“Quantum information science has the potential to transform every sector, from national security to healthcare,” said Maryland Gov. Moore in a statement. “With our wealth of talent, federal partners, and the world-class research universities here in Maryland, we have both the opportunity and the responsibility to seize this moment and become the world’s leading hub for quantum innovation.”
IonQ President and CEO Peter Chapman said the deal between the company and the state should support cutting-edge research, innovation and economic growth and job creation in the state.
“The Governor's commitment is a testament to his vision for the pivotal role that quantum science will play in the state’s economic development and technological leadership,” Chapman added. “This investment will also enhance our collaboration with the University of Maryland to solidify the region as a global leader in quantum innovation.” |
