IonQ, Inc. (NYSE:IONQ) stock rose on Monday after the company announced its participation as a founding member of Q-Alliance.
Q-Alliance is a new initiative aimed at developing a premier quantum computing hub in Lombardy, Italy.
As a founding member of Q-Alliance, IonQ will bring its expertise in gate-based, universal quantum computing along with its exclusive strengths in quantum networking, security, and sensing.
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The initiative will develop infrastructure to foster research, innovation, and commercialization of quantum technologies across sectors, including pharmaceuticals, materials science, logistics, and financial services.
Established in support of Italy’s National Strategy for Quantum Technologies, the Q-Alliance unites public and private organizations to advance a cutting-edge quantum innovation ecosystem.
Management Commentary
Niccolo de Masi, Chairman and CEO of IonQ, said, “Through this landmark quantum collaboration, we intend to create quantum applications that can accelerate every segment of Italy’s major industries – from defense to agriculture, automotive to healthcare.”
“All areas of the Italian economy will benefit by leveraging IonQ’s industry-leading quantum computing, quantum networking, and quantum sensing solutions.”
Recent Key Events
Last week, the company’s stock got a boost after it achieved a major step forward in quantum chemistry simulations, demonstrating accurate atomic-level force calculations using its quantum-classical auxiliary-field quantum Monte Carlo (QC-AFQMC) algorithm.
Investors can gain exposure to IONQ via WisdomTree Quantum Computing Fund (BATS:WQTM) and REX AI Equity Premium Income ETF (NASDAQ:AIPI).
Price Action: IONQ shares were trading higher by 4.17% to $65.57 premarket at last check Monday.
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