Mentioned:
IonQ is making their biggest bet yet on a quantum computing company in the United Kingdom. But, why?
What’s happening:
- IonQ (NYSE: IONQ) has announced a new definitive agreement to acquire United Kingdom quantum computing company Oxford Ionics for $1.075B USD
By the numbers:
- IonQ will pay $1.065B USD in equity and $10M USD in cash as part of the acquisition
Why it matters:
- Oxford Ionics currently holds the world record for quantum operations fidelity, achieving 99.9992% accuracy for single qubit operations and 99.97% accuracy for two qubit operations
Going deeper:
- Oxford Ionics develops quantum computer chips using trapped ions which leverages electronics built directly into the chips instead of controlling them with lasers and also allows for their chips to be made in traditional semiconductor factories
- Oxford Ionics is already producing quantum computers with 16-64 qubits and is scaling up their manufacturing capabilities to be able to deliver quantum computers that are significantly larger than that in the near future
- IonQ has publicly stated that they plan to use Oxford Ionics’ chip technology to be able to produce meaningfully more powerful quantum computers
The intrigue:
- This is the single largest acquisition that IonQ has ever made in the history of the company, and the first acquisition in the quantum computing space for over $1 billion
