IonQ wins largest quantum contract with Air Force Research Lab

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College Park-based quantum computing company IonQ announced Friday that it has signed a $54.5 million contract with the United States Air Force Research Laboratory (AFRL).

With a quarter of the fiscal year remaining, IonQ reported $72.8 million in year-to-date bookings and reiterated its confidence in meeting or exceeding its booking guidance of 75 at $95 million for the year.

Governments, businesses and universities are investing in quantum computing to solve complex, multi-trillion dollar problems in areas such as healthcare, finance and chemistry. A pioneer in both quantum computing and networking, IonQ has nearly doubled its revenue each year since its IPO in 2021, as the company helps its customers meet their needs.

The goal of the AFRL partnership is to design, develop and deliver technology and hardware to enable the scaling, networking and deployability of quantum systems. The project will help advance the compatibility of quantum networks with existing telecommunications infrastructure, interoperability with different quantum systems and devices, and the deployability of systems suitable for various environments. The contract will be executed over four years.

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This AFRL contract builds on the momentum that IonQ has driven in the field of quantum networks over the past year. IonQ announced last month that it had been selected by the Applied Research Intelligence and Security Laboratory (ARLIS) for a quantum network contract to design a first-of-its-kind networked system for blind quantum computing.

IonQ has seen traction and growth not only within government, but also with global enterprise clients and leading academic institutions. Last month, IonQ announced a multimillion-dollar extension of its contract with Amazon Web Services (AWS) to offer its quantum computers through Amazon Braket, AWS’s quantum computing service. The company also announced a $9 million deal with the University of Maryland to provide access to quantum computing.