IonQ jumps after announcing tech breakthrough on interconnecting quantum computers

IonQ is up more than 3% in premarket trading after announcing “a significant technological advancement in its pursuit of scalable quantum networks.”

Specifically, the company was able to convert photons from visible wavelengths into telecom wavelengths, which it calls a “critical milestone” that “paves the way for interconnecting quantum computers over vast distances using the current existing fiber optic infrastructure.”

Technological achievements — like the reduction in error rate that Rigetti achieved with its multi-chip quantum computer in July — have been key catalysts for the industry in the past. What makes this one a little extra special for IonQ is that this progress was made “with research support from the Air Force Research Lab,” an entity that’s currently partnering with multiple firms in the industry to advance its quantum capabilities.

With little in the way of commercial applications for gate-based quantum computing companies, research and government-linked institutions are a key source of revenues.

“We will soon connect two quantum computers over standard wavelengths, opening the floodgates for broadly networked quantum devices using commercial fiber infrastructure,” said Niccolo de Masi, chairman and CEO of IonQ.

IonQ plans to acquire quantum sensor company Vector Atomic, which Needham & Co. analyst N. Quinn Bolton said would help support the growth of the firm’s business with governments.