Mentioned:
The Department of Energy wants to be a leader in quantum computing in space. Which is exactly why they’re partnering up with IonQ.
What’s happening:
- IonQ (NYSE: IONQ) has entered into a memorandum of understanding with the United States Department of Energy to leverage quantum computing technology for secure communications in space
Why it matters:
- IonQ will collaborate directly with the United States Department of Energy on their Quantum in Space project and will also explore the development of new quantum capabilities in orbit
Going deeper:
- The United States Department of Energy’s Quantum in Space project is aiming to position America as one of the first countries to use quantum computing technologies for securing space communications and critical space infrastructure
- IonQ will provide quantum networking and quantum sensing technologies to validate secure data transfers between the Earth and orbit as part of the new partnership
Market reaction:
- Shares of IonQ were up more than +5% in after hours trading following the new partnership announcement
