Today’s Change
Current Price
IonQ (IONQ +4.42%), a full-stack trapped-ion quantum computing provider, closed at $42.54, up 4.42%. It rose after a real-time error-correction breakthrough and a research-center collaboration with Nvidia (NVDA -1.47%).
Trading volume reached 69.9 million shares, coming in about 233% above its three-month average of 21.0 million shares. IonQ IPO’d in 2021 and has grown 294% since going public.
How the markets moved today
The S&P 500 (^GSPC -0.75%) fell 0.75% to 7,706, and the Nasdaq Composite (^IXIC -1.13%) fell 1.13% to 26,936. Among quantum computing hardware, software, and cloud-access services peers, Rigetti Computing (RGTI -3.12%) closed at $16.00, down 3.12%, and D-Wave Quantum (QBTS -4.27%) closed at $16.81, down 4.27%, as the group tracked IonQ’s decoder news.
What this means for investors
IonQ defied a tech downturn today on company-specific news, prompting investors to bet that its quantum computing developments signal a leadership position in the space. The company announced a breakthrough in error decoding with what it called “the industry’s first end-to-end real-time quantum error correction decoder that runs on a single standard off-the-shelf central processing unit (CPU).”
In addition to that news, IonQ announced a potentially important step toward commercializing its quantum systems. Its Superion 256 system will be installed in Nvidia’s accelerated quantum research center to run as a niche processing system alongside Nvidia GPU (graphics processing unit) clusters.
That could lead to hybrid developments and create large-scale systems for AI use cases that include both GPU and quantum designs. That has investors feeling more confident about IonQ’s future commercial success.
Howard Smith has positions in Nvidia. The Motley Fool has positions in and recommends IonQ and Nvidia. The Motley Fool has a disclosure policy.
