IonQ to deploy quantum computer and network at University of Chicago

COLLEGE PARK, Md. - IonQ (NYSE:IONQ) announced a strategic partnership with the University of Chicago to establish the IonQ Center for Engineering and Science on campus, marking the first deployment of a production-grade quantum computer and entanglement distribution quantum network to a university. The quantum computing company, currently valued at $21 billion, has seen its stock price surge to $59.27, reflecting a remarkable 139% return over the past year according to InvestingPro data.

Under the agreement, IonQ will install a next-generation quantum computer and quantum network at the university, providing researchers across disciplines with access to the company's quantum hardware and software tools. The partnership includes ongoing support for research with the university's quantum faculty. This expansion comes as IonQ continues to demonstrate strong revenue growth of 113% over the last twelve months, though InvestingPro analysis indicates the company is not yet profitable, with analysts not expecting profitability this year.

"This foundational agreement with the University of Chicago will fuel IonQ's innovation engine," said Niccolo de Masi, Chairman and CEO of IonQ, according to a company press release.

University of Chicago President Paul Alivisatos noted that the partnership reflects the university's "conviction that foundational discovery and industry can advance the field together."

The collaboration will focus on research areas aligned with IonQ's technology roadmap, including quantum hardware for computing, networking, sensing, and security, as well as quantum applications for chemistry, materials science, and advanced communication protocols.

As part of the initiative, IonQ will contribute to the construction of a new building on campus to house the University of Chicago's Pritzker School of Molecular Engineering and other science and technology research areas. Additionally, IonQ is expected to become a core partner of the Chicago Quantum Exchange, a multi-institutional research consortium based at the university.

This agreement builds on IonQ's existing academic collaborations with institutions including the University of Maryland, Duke University, and the University of Washington. The company aims to deliver quantum computers with 2 million qubits by 2030 to accelerate innovation across various industries.

In other recent news, IonQ reported its third-quarter 2025 earnings, revealing revenue of $39.9 million, which significantly surpassed the forecasted $26.98 million. This robust performance highlights the company's strong market position. Additionally, IonQ has been selected for Stage B of the Defense Advanced Research Projects Agency's (DARPA) Quantum Benchmarking Initiative, following its successful completion of Stage A. This initiative focuses on developing a detailed research and development roadmap through 2033 to define standards for utility-scale quantum computing performance.

In another development, Cantor Fitzgerald raised its price target for IonQ to $70 from $60, maintaining an Overweight rating. The firm cited IonQ's early-stage commercialization efforts and its potential to capture 30% of the quantum hardware, software, and services market by 2035 as reasons for the upgrade. Furthermore, IonQ filed a prospectus supplement with the Securities and Exchange Commission to allow the resale of over 2.1 million shares by the University of Chicago. This was made possible through a registration rights agreement between IonQ and the university.

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