What Happened?

Shares of quantum computing company IonQ (NYSE: IONQ) jumped 3.8% in the afternoon session after the stock continued to rally as reports emerged that the U.S. government was in discussions to take equity stakes in quantum computing companies in exchange for federal funding. 

Multiple outlets reported that the U.S. Commerce Department was considering partnerships with several firms, including IonQ, as part of a national security push. The news caused a surge in quantum computing stocks. However, a Commerce official later clarified that the government was "not currently negotiating equity stakes with quantum computing companies." Despite the mixed signals and the denial of active negotiations, the stock held onto its gains, suggesting investor optimism about the possibility of future government support for the industry.

After the initial pop the shares cooled down to $61.37, up 3.4% from previous close.

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What Is The Market Telling Us

IonQ’s shares are extremely volatile and have had 108 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 1 day ago when the stock gained 9.8% on the news that reports the U.S. Commerce Department was in talks to take an equity stake in the company in exchange for federal funding. The news, first reported by The Wall Street Journal, sent shares of several U.S. quantum computing firms higher. The discussions involved arrangements where companies like IonQ, Rigetti Computing, and D-Wave Quantum would grant equity to the government. In return for the stake, the firms would receive funding awards, with reports suggesting a minimum of $10 million for each company. The possibility of direct federal investment signaled strong government support for the industry, boosting investor confidence.

IonQ is up 42.4% since the beginning of the year, but at $61.37 per share, it is still trading 25.2% below its 52-week high of $82.09 from October 2025. Investors who bought $1,000 worth of IonQ’s shares at the IPO in January 2021 would now be looking at an investment worth $5,682.

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