IonQ and SoftBank Investment Advisers Team Up to Expand Quantum Computing Access Globally

Rhea-AI Summary

IonQ announced a strategic partnership with SoftBank Investment Advisers to enhance global access to its quantum computing solutions. This collaboration aims to leverage SoftBank's portfolio in various industries while further solidifying IonQ's position in the quantum space as it approaches a public debut via a merger with dMY Technology Group III (NYSE: DMYI). IonQ's 32-qubit quantum computer is recognized as one of the most powerful globally and is accessible through major cloud platforms like Amazon Braket and Microsoft Azure.

Positive

• Strategic partnership with SoftBank enhances market reach and access to quantum solutions.
• IonQ's 32-qubit system is considered one of the most powerful in the world.
• The upcoming merger with dMY Technology Group III positions IonQ for a public debut.

Negative

• None.

COLLEGE PARK, Md., June 3, 2021 /PRNewswire/ -- IonQ, Inc. ("IonQ"), the leader in quantum computing, today announced a strategic partnership with SoftBank Investment Advisers, manager of SoftBank Vision Funds 1 and 2, to deploy quantum-first solutions in the industries, geographies, and portfolios where SoftBank is already in the vanguard. The partnership expands access to IonQ's leading quantum computers globally, and the SoftBank Vision Fund 2* also joins IonQ's world-leading investor base as it approaches its public debut.

"We are humbled to have such a vote of confidence from the team at SoftBank, given their unparalleled track record of spotting step-changes in technology," said Peter Chapman, CEO & President of IonQ. "Partnering with SoftBank will enable IonQ to put our industry-leading quantum hardware in the hands of entrepreneurs, builders, and problem-solvers around the world. From logistics to proptech to materials science, the potential applications of quantum computing to SoftBank's interests are many."

"IonQ is helping to solve some of the world's most complex problems through quantum computing," said Kirthiga Reddy, Partner at SoftBank Investment Advisers. "Partnering with IonQ is just the latest example of our commitment to supporting visionaries who are solving tomorrow's problems today. Both within SoftBank's portfolio and across the broader market, we believe there won't be an industry left untouched by the quantum revolution."

This strategic partnership with SoftBank builds on IonQ's continued success and proven performance. The company's 11-qubit system is the first and only quantum computer available via the cloud on both Amazon Braket and Microsoft Azure, and its 32-qubit system is one of the world's most powerful quantum computers. IonQ has a critical role to play in pulling the quantum computing industry forward as its plans to develop modular quantum computers small enough to be networked together in 2023 could pave the way for broad quantum advantage by 2025, and its two co-founders, Jungsang Kim and Chris Monroe, were named to the White House's National Quantum Initiative Advisory Committee (NQIAC). IonQ will further expand access to quantum as it prepares to become the first publicly traded quantum computing company via a merger with dMY Technology Group III (NYSE: DMYI).

*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.

About IonQ
IonQ, Inc. is the leader in quantum computing, with a proven track record of innovation and deployment. IonQ's 32-qubit quantum computer is the world's most powerful quantum computer, and IonQ has defined what it believes is the best path forward to scale. IonQ is the only company with its quantum systems available through the cloud on Amazon Braket and Microsoft Azure, as well as through direct API access. IonQ was founded in 2015 by Christopher Monroe and Jungsang Kim based on 25 years of pioneering research. To learn more, visit www.IonQ.com.

About dMY Technology Group, Inc. III
dMY III is a special purpose acquisition company formed by dMY III Technology Group, Harry L. You and Niccolo de Masi for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets.

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SOURCE IonQ

FAQ

What is the significance of IonQ's partnership with SoftBank Investment Advisers?

The partnership aims to expand global access to IonQ's quantum computing solutions across various industries.

How does IonQ's quantum computer compare to others?

IonQ's 32-qubit quantum computer is recognized as one of the most powerful available globally.

When is IonQ expected to become publicly traded?

IonQ is preparing for its public debut through a merger with dMY Technology Group III (NYSE: DMYI).