This Quantum Computing Company Has Every Big Tech Firm Paying Attention

Quantum computing has the potential to be the next big technological breakthrough after artificial intelligence (AI). However, this is an emerging technology that is still many years away from becoming commercially viable.

While many companies are following this opportunity, there is one company that major tech companies are paying close attention to: IonQ (NYSE: IONQ).

IonQ is a great host

There are several reasons why IonQ is likely to be the quantum computing company that the big tech is paying attention to right now. The first reason is that the company is pursuing a different technological path than most players, and it seems to be successful.

One of the biggest problems facing quantum computing today is accuracy; however, the embedded IonQ technology has proven to be one of the most accurate, with the company achieving 99.99% 2-qubit reliability (accuracy). While that sounds very accurate, to a computer, it’s still errors, but it’s at a point where a company can start using other error correction techniques to help develop a fault-tolerant quantum system.

Quantum computing faces accuracy problems because instead of using bits, which are in a fixed state of 1 or 0, a quantum computer uses qubits, which are a mathematical combination of both states at the same time. This makes them more sensitive to external factors such as vibration and temperature changes. IonQ’s trapped-ion technology differs from many competitors by starting with real ytterbium atoms, which are more stable in nature than lab-created qubits.

The company then made a breakthrough following its acquisition of Oxford Ionics, enabling it to move from keeping its ion traps in place with lasers to controlling them with microwave signals built right into its chips. This will also allow it to reduce the size of its programs.

In addition to hitting the reliability milestone, another reason why big tech is looking at IonQ is that the company is looking to control the entire quantum ecosystem. It has applied to many areas, including quantum networking, sensing, and satellite transmission.

IonQ is in the midst of a direct merger, with the company in the midst of buying a leading quantum foundry. SkyWater Technology. The deal should allow the company to quickly test prototype chips and eventually help scale when it’s time to sell its systems.

Is the stock being bought?

IonQ is perhaps the most interesting of the pure-play quantum computing stocks, given its precision edge. However, the race is far from over, and although its approach has been proven to be accurate, it still lags behind the pace of competition. Therefore, the stock remains speculative, and I will hold a small position.

Should you buy stock in IonQ right now?

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Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions and recommends IonQ and SkyWater Technology. The Motley Fool has a policy of disclosure.

This Quantum Computing Company Has Every Big Tech Company Paying Quietly was originally published by The Motley Fool.