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COLLEGE PARK, Md. - IonQ (NYSE:IONQ), whose stock has surged nearly 800% over the past year according to InvestingPro data, announced Tuesday it has successfully demonstrated the conversion of photons from visible wavelengths to telecom wavelengths in a prototype system, marking a significant step toward creating quantum networks that can operate over existing fiber optic infrastructure.
The breakthrough, developed with support from the Air Force Research Lab (AFRL), enables the connection of IonQ’s trapped ion quantum computers over long distances using standard telecom fiber optic cables. This conversion is necessary because IonQ’s quantum systems use visible light to interface with trapped barium ions, while long-distance fiber optic networks operate at telecom wavelengths. The company, now valued at over $21 billion, has demonstrated strong revenue growth of 68% in the last twelve months.
"We are the first quantum company to demonstrate the ability to convert visible signals to telecom wavelengths," said Niccolo de Masi, Chairman and CEO of IonQ, according to the press release.
The achievement follows IonQ’s recent delivery of a trapped-ion quantum computer with an integrated photonic interface to AFRL’s site in Rome, New York.
Congresswoman Elise Stefanik commented that the advancement "reaffirms our strategic commitment to maintaining American quantum superiority through decisive investment and forward-looking policy."
IonQ, which operates quantum computing facilities across the United States and in Basel, Switzerland, aims to build scalable quantum networks that could eventually form the foundation of a "Quantum Internet" - distributed quantum computing systems connected via secure quantum networks.
The company’s current generation quantum computers include IonQ Forte and IonQ Forte Enterprise. IonQ has previously stated its intention to deliver quantum computers with 2 million qubits by 2030.
The information in this article is based on a press release statement from IonQ. With the stock trading near its 52-week high and technical indicators suggesting overbought conditions, InvestingPro analysis indicates the stock may be overvalued at current levels. Investors can access detailed financial analysis, 18 additional ProTips, and comprehensive valuation metrics through InvestingPro’s research reports.
In other recent news, IonQ has made significant strides in the quantum technology sector. The company announced a memorandum of understanding with the U.S. Department of Energy to develop quantum technologies for space applications. This collaboration will involve an orbital demonstration of quantum-secure communications and explore additional quantum applications like navigation and timing systems. Furthermore, IonQ has entered into a definitive agreement to acquire Vector Atomic, a quantum sensing specialist. This all-stock transaction is expected to bolster IonQ’s capabilities in the quantum sensing market, adding Vector Atomic’s high-performance clocks and sensors to its portfolio. Vector Atomic has secured over $200 million in government contracts, enhancing IonQ’s position in national security applications. Additionally, Benchmark raised its price target for IonQ to $75 from $55, maintaining a Buy rating. The increase follows IonQ’s Analyst Day, where the company expressed confidence in achieving its 2 million qubit target by 2030. These developments highlight IonQ’s expanding influence in the quantum technology landscape.
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