IonQ Inc (IONQ) - Investment Thesis
IonQ, Inc. develops general-purpose trapped ion quantum computers. It also sells access to quantum computers through cloud platforms, such as Amazon Web Services (AWS), Microsoft's Azure Quantum, and Google Cloud, as well as through its cloud service. The company was founded in 2015 and in October 2021 was publicly listed on the New York Stock Exchange.
IonQ Forte is current generation quantum computer with 36 algorithmic qubits.
IonQ : "We run at room temperature" - they are using lasers to cool individual atoms. The technique is based on Laser Doppler Cooling effect: atoms are surrounded by lasers tuned at frequencies just bellow an electronic transition in the atom. When atom moves toward the lasers, the light is blue-shifted, atom absorbs light and slows its motion.
Reasons to buy:
1. The company was awarded a $54.5 million contract with the U.S. Air Force Research Lab on 27 Sep 2024. Other prominent clients:
Hyundai - development of self-driving cars
Airbus - calculating cargo optimization
Oak Ridge National Laboratory - improving the U.S. power grid using quantum computers
University of Maryland - $9M deal to provide state-of-the-art quantum computing access.
2. The company has nearly doubled revenue each year since going public.
the company has achieved some notable breakthroughs, including recording 99.9% fidelity on two-qubit gates using barium ions. The firm has also demonstrated ion-photon entanglement for commercial use and ion-ion entanglement.
Against buying:
IonQ is still unprofitable despite its rising revenue.
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