IonQ Unveils Accelerated Roadmap and New Technical Milestones to Propel Commercial Quantum Advantage Forward

Rhea-AI Summary

IonQ (NYSE: IONQ), a leader in quantum computing, has unveiled an accelerated roadmap and new technical milestones for achieving commercial quantum advantage by 2025. The company's strategy focuses on three pillars: performance, scale, and enterprise-grade solutions. Key highlights include:

1. Improving native two-qubit gate performance to >99.9% in 2025
2. Targeting 99.999% logical two-qubit gate fidelity by end of 2025
3. Scaling to thousands of physical qubits using multicore operation and photonic interconnects
4. Expanding quantum data centers globally, with a new facility in Basel, Switzerland

IonQ's approach aims to deliver high-performance, scalable, and enterprise-ready quantum computers to provide unparalleled commercial advantage to customers across various industries.

Positive

• Accelerated roadmap with ambitious 2025 technical milestones
• Targeting >99.9% native two-qubit gate performance in 2025
• Aiming for 99.999% logical two-qubit gate fidelity by end of 2025
• Scaling strategy to reach thousands of physical qubits
• Expansion of quantum data centers globally, including a new facility in Basel, Switzerland
• Partnerships with notable organizations like Naval Research Laboratory, Airbus, and DESY

Negative

• None.

Insights

Tech Expert

IonQ's announcement of accelerated technical milestones showcases significant advancements in the quantum computing sector. Their focus on achieving high gate fidelity—greater than 99.9% for two-qubit gates—and a modular architecture incorporating photonic interconnects demonstrates their commitment to both performance and scalability. This not only sets a new benchmark in the industry but also positions IonQ as a frontrunner in delivering practical quantum computing solutions. The move to barium qubits is particularly noteworthy, as it promises improved error rates and operational efficiencies. These technical milestones can lead to broader applications and greater adoption of quantum computing in real-world scenarios.

Financial Analyst

From a financial perspective, IonQ's roadmap is poised to significantly impact their market position. The ambitious goals for performance and scalability could translate to increased investor confidence and higher valuations. Partnerships with reputable entities like Airbus and the Naval Research Laboratory further validate IonQ's enterprise-grade commitment, potentially driving revenue growth through diversified applications in fields such as AI, financial services and cybersecurity. However, executing this accelerated strategy requires substantial capital investment and the company's ability to secure funding and manage costs will be important for sustained growth.

Market Research Analyst

The market demand for quantum computing solutions is growing and IonQ's comprehensive strategy of performance, scalability and enterprise readiness places them in a strong competitive position. Their unique approach to modularity and photonic interconnects addresses the critical challenge of scaling quantum systems. The expansion of their quantum data centers, including the upcoming facility in Basel, Switzerland, indicates robust infrastructure development to meet global demand. This positions IonQ well for future market opportunities, although the competitive landscape remains fierce with other players also making significant strides.

Performance, scale, and enterprise-grade pillars further define IonQ’s unmatched and integrated approach to achieving commercial quantum advantage

COLLEGE PARK, Md.--(BUSINESS WIRE)-- IonQ (NYSE: IONQ), a leader in the quantum computing industry, recently unveiled expanded and accelerated 2025 technical milestones during an exclusive webinar hosted by CEO Peter Chapman, SVP of Engineering & Technology Dean Kassmann, and CMO Margaret Arakawa. IonQ established why it is the only quantum computing company designing and building best-in-class quantum computers that meet the requirements of performance, scalability, and enterprise-grade solutions that are critical for delivering unparalleled commercial advantage to customers.

IonQ's three-pillar technology strategy to accelerate commercial advantage. (Graphic: Business Wire)

“It is imperative that we address performance, scale, and enterprise-grade quantum solutions simultaneously to achieve commercial advantage,” said Peter Chapman, President and CEO of IonQ. “Working to operationalize all three commercial advantage pillars is an industry-first that sets us apart. While other companies may hyperfocus on a single dimension, we focus on the complete picture, to ensure our quantum computing solutions are best-in-class and provide incomparable value to our customers.”

“Based on market demand, we’ve embarked on a path that no other commercial quantum computing company is taking, and we are committed to accelerating our quantum computing strategy as demonstrated by these ambitious goals,” said Dean Kassmann, SVP of Engineering & Technology at IonQ. “Our unique approach combines high performance single core operation, multi-core parallelism, modularity, photonic interconnects, novel technology, and systems engineering to deliver highly performant, scalable, and enterprise-grade quantum computers that drive meaningful advancements across various industries.”

Performance: Driving Efficiency and Unparalleled Flexibility

Performance improvements are core to IonQ’s technical roadmap, and the path toward meeting IonQ’s aggressive performance targets is clear. Native gate fidelity, architectural design decisions, and error correction will serve as levers to achieve these goals. IonQ is driving to improve native two-qubit gate performance to greater than three 9’s (>99.9%) in 2025, with further gains – fueled by the move to barium qubits – expected the following year. Performance improvements are also expected from highly efficient realizations of quantum algorithms that are enabled by IonQ’s low-shuttling, high-connectivity architectures. Lastly, the combination of high native gate fidelity and high connectivity provides unparalleled flexibility for implementing error correction and reducing time to solution. With this updated quantum architecture, IonQ expects to reach five 9’s (99.999%) in logical two-qubit gate fidelity by the end of 2025, opening up new application performance capabilities.

Scale: Architecture that Enables Expansive Growth

IonQ is pursuing scale in tandem with performance. IonQ’s north star is scalability at high performance, and modularity is a critical component of this strategy. IonQ’s approach to scale relies on making engineering and architectural decisions that support performance at large qubit counts. In addition, IonQ’s strategy for scaling takes advantage of multicore operation and photonically interconnected systems. Connecting multiple QPUs and quantum systems with photonic interconnects will enable IonQ to target 1000s of physical qubits in the future. These higher qubit counts will unlock new problem spaces and enable developers and researchers to tackle increasingly complex problems.

Enterprise-Grade: Meeting Real-World Needs

IonQ’s enterprise-grade approach readies its quantum systems for deployment across various sectors, focusing on manufacturability, deployability, and customer applications at scale. IonQ has already formed successful partnerships with organizations like the Naval Research Laboratory (NRL), Airbus, and Deutsches Elektronen-Synchrotron (DESY) – an internationally renowned center of fundamental research – as they focus on optimization problems and quantum chemistry and other important real-world applications. Additionally, IonQ is exploring a growing number of quantum algorithms across fields such as AI, financial services, and cybersecurity, reinforcing its commitment to real-world quantum technology applications.

Currently, IonQ operates two quantum data centers—one at its headquarters in College Park, Maryland, and another in Seattle, Washington, which the company opened earlier this year. Later this year, IonQ will expand its footprint by bringing its quantum data center in Basel, Switzerland, online. All of these locations are dedicated to supporting the needs of IonQ’s customers.

This momentum underscores IonQ's leadership in the quantum computing industry and robust industry demand. IonQ's enterprise strategy and expanding infrastructure highlight its dedication to unlocking commercial advantage by collaborating with industry leaders and making cutting-edge, well-balanced, quantum technology available ahead of schedule.

To learn more about IonQ and its latest system news and business developments, visit https://ionq.com/.

About IonQ

IonQ, Inc. is a leader in quantum computing that delivers high-performance systems capable of solving the world’s largest and most complex commercial and research use cases. IonQ’s current generation quantum computer, IonQ Forte, is the latest in a line of cutting-edge systems, boasting 36 algorithmic qubits. The company’s innovative technology and rapid growth were recognized in Fast Company’s 2023 Next Big Things in Tech List and Deloitte’s 2023 Technology Fast 500™ List, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com.

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “accelerate,” “advance,” “dedicate,” “deploy,” “drive,” “enable,” “expand,” “expect,” “improve,” “will,” and other similar expressions are intended to identify forward-looking statements. These statements include those related to the company’s technology driving commercial advantage in the future, the ability for third parties to implement IonQ’s offerings to increase their quantum computing capabilities, the effect of increased availability of customer support functions and enterprise-grade solutions, IonQ’s quantum computing capabilities and plans, access to IonQ’s quantum computers, increases in algorithmic qubit achievement, and the scalability, performance, and reliability of IonQ’s quantum computing offerings. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive industries in which IonQ operates, including development of competing technologies; changes in laws and regulations affecting IonQ’s business; IonQ’s ability to implement its business plans, forecasts and other expectations, identify and realize partnerships and opportunities, and to engage new and existing customers. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the Company’s filings, including but not limited to those described in the “Risk Factors” section of IonQ’s most recent Quarterly Report on Form 10-Q and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240722272052/en/

IonQ Media contact:

Tyler Ogoshi

press@ionq.com

IonQ Investor Contact:

investors@ionq.co

Source: IonQ

FAQ

What are IonQ's 2025 technical milestones for quantum computing?

IonQ aims to achieve >99.9% native two-qubit gate performance and 99.999% logical two-qubit gate fidelity by the end of 2025. They also plan to scale to thousands of physical qubits using multicore operation and photonic interconnects.

How is IonQ (IONQ) planning to achieve commercial quantum advantage?

IonQ is focusing on three pillars: performance, scale, and enterprise-grade solutions. This includes improving gate fidelity, scaling to thousands of qubits, and expanding quantum data centers globally to meet real-world business needs.

What industries is IonQ (IONQ) targeting with its quantum computing technology?

IonQ is exploring quantum algorithms across various fields, including AI, financial services, cybersecurity, and quantum chemistry. They have partnerships with organizations in aerospace, research, and defense sectors.

Where are IonQ's quantum data centers located as of 2023?

IonQ currently operates quantum data centers in College Park, Maryland, and Seattle, Washington. They plan to open a new facility in Basel, Switzerland later in 2023.